Bic released Q3 FY16 results below our estimates as well as market consensus. The revenue at CER came in at +3.8% (vs AV’s estimate: +4.9%), on the back of a sluggish performance in the consumers business (+3.2% vs AV’s estimate: +5.5%; accounts for c.85% of Q3 16 revenue). Within the segment, the biggest disappointment was the shavers business (+1.4% vs AV’s estimate: +8.5%; accounts for c.20% of Q3 16 revenue), pinned down by a 4.6% decline in the US wet shave industry (5.
17 Nov 2016
Stiff competition in North America hinders growth
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Stiff competition in North America hinders growth
Societe BIC SA (BB:PAR) | 0 0 1.6% | Mkt Cap: 4,035m
- Published:
17 Nov 2016 -
Author:
Nishant Choudhary -
Pages:
3
Bic released Q3 FY16 results below our estimates as well as market consensus. The revenue at CER came in at +3.8% (vs AV’s estimate: +4.9%), on the back of a sluggish performance in the consumers business (+3.2% vs AV’s estimate: +5.5%; accounts for c.85% of Q3 16 revenue). Within the segment, the biggest disappointment was the shavers business (+1.4% vs AV’s estimate: +8.5%; accounts for c.20% of Q3 16 revenue), pinned down by a 4.6% decline in the US wet shave industry (5.