Warpaint’s exposure to UK headwinds was amplified by an over-reliance on small high street retailers. This and the demise of other customers is the main reason for downgrades over the last year. Management has drawn on its experience though and responded with a clear strategy to restore growth. Wider brand distribution to bigger retailers, especially in the UK, will be a key driver. We factor little in from the initiatives at this stage, but the TSR is still 55% at our 76p fair value es
23 Sep 2019
Cosmetics brands could make-up for lost growth
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Cosmetics brands could make-up for lost growth
Warpaint London PLC (W7L:LON) | 485 -24.3 (-1.0%) | Mkt Cap: 374.7m
- Published:
23 Sep 2019 -
Author:
Matthew McEachran -
Pages:
3
Warpaint’s exposure to UK headwinds was amplified by an over-reliance on small high street retailers. This and the demise of other customers is the main reason for downgrades over the last year. Management has drawn on its experience though and responded with a clear strategy to restore growth. Wider brand distribution to bigger retailers, especially in the UK, will be a key driver. We factor little in from the initiatives at this stage, but the TSR is still 55% at our 76p fair value es