Despite decent lfl growth in Q2, the underlying profitability was below our estimates. Although the new turnaround plan looks rational, it is below our expectations. The key pain-points are lack of granular details, the tough outlook for consumer demand in the UK and high risk of implementation (spread across the next three years). Investors would need at least a few quarters of convincing progress (on-time implementation of the restructuring proposal) to restore faith in the UK’s numbe
04 Jan 2019
Double whammy: poor H1 and unconvincing turnaround plan
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Double whammy: poor H1 and unconvincing turnaround plan
Currys PLC (CURY:LON) | 61.8 -1.1 (-2.8%) | Mkt Cap: 699.9m
- Published:
04 Jan 2019 -
Author:
Nishant Choudhary -
Pages:
4
Despite decent lfl growth in Q2, the underlying profitability was below our estimates. Although the new turnaround plan looks rational, it is below our expectations. The key pain-points are lack of granular details, the tough outlook for consumer demand in the UK and high risk of implementation (spread across the next three years). Investors would need at least a few quarters of convincing progress (on-time implementation of the restructuring proposal) to restore faith in the UK’s numbe