Ceconomy’s preliminary trading update was better than our expectations. A strong showing in the online format and the COVID-19-related cost-cutting measures were instrumental in ensuring that the Q3 EBIT was similar to the previous year’s. The exit run-rate of online is also noticeable considering that 100% of the stores were operational in June. We maintain our positive stance on the stock’s valuation.
22 Jul 2020
Ceconomy shows resilience with online spurt
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Ceconomy shows resilience with online spurt
Ceconomy’s preliminary trading update was better than our expectations. A strong showing in the online format and the COVID-19-related cost-cutting measures were instrumental in ensuring that the Q3 EBIT was similar to the previous year’s. The exit run-rate of online is also noticeable considering that 100% of the stores were operational in June. We maintain our positive stance on the stock’s valuation.