Toll Brothers says home sales in California impacted by coronavirus
Reuters
Published Feb 26, 2020 12:48PM ET
Toll Brothers says home sales in California impacted by coronavirus
(Reuters) - Home builder Toll Brothers Inc (N:TOL) said on Wednesday that the coronavirus outbreak in China had led to shortages of lighting fixtures and small appliances, forcing it to delay sales of some homes in California, one of its biggest markets.
"We believe 11 closings in California have been pushed out, we hope to the second quarter, due to the virus," Chief Executive Officer Douglas Yearley said on a post-earnings call.
Toll has been under pressure from President Donald Trump's trade war, which has kept affluent Chinese from buying homes in California.
The company's homes in the state can cost more than $2 million.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.