Nelly Group: A better backdrop, but uncertainty within - SEB

We expect a more supportive trading backdrop in Q3, helped by a favourable seasonal mix, encouraging autumn/winter trading indicators and potentially easing competition from Asian platforms. However, with both the CEO and CFO now set to leave, management uncertainty comes at an unfortunate time as Nelly works to address recent assortment issues. On minor estimate revisions, we leave our SEK 56-70 fair value range unchanged.

Länk till analysen i sin helhet: https://research.sebgroup.com/corporate/reports/144304