Cedric Rossi

Play margin rebound potential

Weak current trading (March sales up 4% FX-n) has clearly not dampened the enthusiasm of investors who welcomed positively: (i) the resilient GM performance, (ii) inventory optimisation with a stable markdown impact YoY, and (iii) margin headwinds gradually easing off. Whereas top-line trends clear
Bryan Garnier
Bryan Garnier

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.

Cedric Rossi

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