Grandvision: H1 Results Preview: Toward healthier sales & earnings trends in Q2
Grandvision: (BUY, Fair Value EUR26 (+37%))H1 Results Preview: Toward healthier sales & earnings trends in Q2
GVNV H1 results, due on 6th August, should show more favourable trends as highlighted in our broad preview on the Eyewear & Optical sector (25th June). The share price performance over the past days has been bumpy because of Fielmann’s PW last week but we would consider these levels as attractive entry points, since GNVN has a more resilient business model and offers a more attractive growth/valuation ratio. Our optimistic stance should be confirmed by management at the H1 results and during the CMD (20th September).
GrandVision offers wide access to vision services and products, which includes prescription glasses, contact lenses and care products, and sunglasses both with and without prescription lenses. Co.'s exclusive brands includes: Frames (5th Avenue Heritage, Activ, BeBright, C-line, DbyD, Enzzo, Fuzion, Go Green, Heritage, Julius, IN STYLE, iSwitch, LightFly, Miki Ninn, Play!, Seen, Sensaya, The one, twiins); Sunglasses (Heritage, Seen, Solaris, Unofficial); Lenses (LightView, VariView); and Contact Lenses (Eyexpert, iWear). As of Dec. 31, 2016, Co.'s network includes 6,516 stores across more than 40 countries in Europe, the Americas, and Asia and operates under 29 local retail banners.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.