Aug 14 (Reuters) - LXRandCo Inc LXR.TO :
* LXRANDCO REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER 2020 AND THE RE-OPENING OF TWO-THIRDS OF ITS STOIRE NETWORK
* AS AT JUNE 30, 2020, 66% OF ITS STORE NETWORK (I.E. 39 STORES OUT OF 59) WERE IN OPERATION WITH REDUCED WORKHOUR AND STAFFING
* Q2 REVENUE $1.4 MILLION, DOWN 83.3%
* BELIEVES ONGOING EFFECTS OF COVID-19 ON OPERATIONS OR MULTIPLE NEW OUTBREAKS, WILL HAVE MATERIAL NEGATIVE IMPACT ON FINANCIAL RESULTS, LIQUIDITY
* LXRANDCO - TAKING ADDITIONAL ACTIONS TO IMPROVE LIQUIDITY, INCLUDING ACCELERATING E-COMMERCE ONLINE ACTIVITIES, INITIATING CAPEX, EXPENSE REDUCTIONS
* BELIEVES STEIN MART STORE CLOSURES WILL HAVE MATERIAL IMPACT ON FUTURE RETAIL REVENUE
* BELIEVES IMPACT FROM STEIN MART STORE CLOSURES ON PROFITABILITY WILL BE MORE MUTED
* MANAGEMENT REQUIRED TO IDENTIFY WHEN EVENTS/CONDITIONS INDICATE SIGNIFICANT DOUBT MAY EXIST ABOUT ABILITY TO CONTINUE AS GOING CONCERN