Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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Cédric Rossi
- Cédric Rossi
H&M: modest signs of improvement
While still showing a contraction YoY, Q2 margins improved sequentially versus Q1, lending more credibility to the company’s guidance for a positive inflexion point expected in H2 2025. However, H&M remains particularly sensitive to fluid external factors such as promotional activity, freight c
Cédric Rossi
- Cédric Rossi
Emerging consolidator in Germany’s optical retail sector
After announcing its ambition to enter the optical sector earlier this month, the German software company The Platform Group (TPG) has already acquired four optical players in Germany. In addition to joining TPG’s MyGlasses.de online platform to implement an omnichannel approach, these acquisitions
Mahaut Arnaud ... (+3)
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Avantium: multi-year capacity reservation with Royal Hordijk
This morning, Avantium announced a multi-year capacity reservation agreement (CRA) with Royal Hordijk to supply PEF from its future license network. This deal gives Royal Hordijk preferred access to PEF volumes for making trays and injection-moulded packaging in food, cosmetics and other consumer-g
Mahaut Arnaud ... (+3)
- Mahaut Arnaud
- Paul de Froment
- Thomas Mordelle
Fastned: EUR34.7m bond issue
Yesterday, Fastned announced it has raised more than EUR34.7m from its second bond issue to retail investors this year, with EUR28.8m contributed in new investments and EUR5.9m rolled from earlier tranches. This brings the total amount of retail bonds raised in 2025 to more than EUR71m (vs EUR82m i
Clément Genelot
- Clément Genelot
Casino: covenant breach still very likely from H2 26; what's next?
We have updated our model, lifting our FY25-27 EBITDA by c.9% and our PT to €0.38, to take into account an improving French grocery market, increasingly driven by an uptick in food inflation. Despite this improvement, we continue to forecast a covenant breach from Q3 26 and believe Mr Kretinsky wil
Gregory Ramirez
- Gregory Ramirez
Thibault Morel
- Thibault Morel
Cedric Rossi
- Cedric Rossi
HUGO BOSS: Successful execution and healthy geo mix lead to raised FY2...
HUGO BOSS - NEUTRAL | EUR68 vs. EUR64 Successful execution and healthy geo mix lead to raised FY22 guidance Strong sales and EBIT beat in Q2 driven by execution… … and low exposure to China’s lockdowns FY22 sales and EBIT guidance revised upwards and we increase our FY22-23 estimates by 7%
Clement Genelot
- Clement Genelot