Q2: Profit warning yesterday indicates weakening sales in H2 - SEB

Duell’s sales beat our and consensus expectations in Q2 and were flat y/y, while profitability was weaker due to higher costs and weaker gross margin. Duell gave a profit warning yesterday, but the biggest weakness did not materialise yet in Q2 – the PW indicates weakening sales development in H2. We interpret that the problems in France have deepened, and overall consumer sentiment remains fragile.

Länk till analysen i sin helhet: https://research.sebgroup.com/corporate/reports/140783