FOOT held a brief CMD yesterday with presentations led by CFO Claire Nesbitt and CFO Danielle Davies. Overall we found the presentation credible and the management knowledgeable. That said the strategy is based significantly on physical expansion from 65 current UK stores to a target of 150 in the UK and EBITDA margins are low (at 7.6% 2/17A v JD Sports 13%) and likely to remain so in the near term as the business invests in infrastructure.
14 Feb 2018
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Footasylum (FOOT:LON) | 0 0 (-0.2%) | Mkt Cap: 247.7m
- Published:
14 Feb 2018 -
Author:
Tony Shiret -
Pages:
3
FOOT held a brief CMD yesterday with presentations led by CFO Claire Nesbitt and CFO Danielle Davies. Overall we found the presentation credible and the management knowledgeable. That said the strategy is based significantly on physical expansion from 65 current UK stores to a target of 150 in the UK and EBITDA margins are low (at 7.6% 2/17A v JD Sports 13%) and likely to remain so in the near term as the business invests in infrastructure.