Ceconomy’s trading statement for Q3 FY20/21 was a mixed bag – revenue was stronger but the adjusted EBIT was weaker than our expectations. Much of it was attributed to a weak show in Germany, which reeled under the long lockdowns and other pandemic-related restrictions. Although the online format remained strong, we expect gradual normalisation in the coming quarters, as the store footfall increases (with the easing of restrictions). We will trim the earnings but maintain a positive stance on t ....
19 Jul 2021
German lockdown takes a toll on Q3 performance!
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German lockdown takes a toll on Q3 performance!
Ceconomy’s trading statement for Q3 FY20/21 was a mixed bag – revenue was stronger but the adjusted EBIT was weaker than our expectations. Much of it was attributed to a weak show in Germany, which reeled under the long lockdowns and other pandemic-related restrictions. Although the online format remained strong, we expect gradual normalisation in the coming quarters, as the store footfall increases (with the easing of restrictions). We will trim the earnings but maintain a positive stance on t ....