Retail - Europe: Strong Online Sales Growth To Continue, But Profit Growth Will Lag
CORPORATES SECTOR IN-DEPTH 25 May 2017 TABLE OF CONTENTS Summary 1 Despite continued strong online sales growth, overall credit quality unlikely to change 2 In-store sales, and profitability in turn, to continue to decline 3 Economies of scale will drive higher long-term online profitability but some store rationalisation is inevitable as in-store sales densities decline 4 Pace of online growth an
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