- (PLX AI) - Clas Ohlson shares fell 6% at the open after July sales came in much lower than expected.
- • Organic sales decreased 7% in the month compared to a year ago, instead of rising 2% as consensus expected
- • The company's bet on a strong season with a large stock of summer products didn't pan out, despite extensive marketing campaigns with price reductions, analysts at Kepler Cheuvreux said
- • We believe this is a clear signal that margins will be negatively affected during the quarter, Kepler said
- • The sales deviation in July may lead to negative revisions of the full-year consensus of 3%, although comments about increased price investments and marketing may suggest larger negative revisions, Kepler said
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