Adler Modemärkte AG : Late profit warning after slightly disappointing Q3 figures, but shares look attractively valued
>Q3 2018 figures slightly below expectations - Adler’s Q3 2018 sales of € 117.3m and EBITDA of € -2.4m fell slightly short of our estimates (sales of € 121.0m, EBITDA of € -1,7m). The absence of a profit warning from ADLER may have allowed us to stay relatively confident, although we had expected some negative impact from the exceptionally long hot summer. In view of the very difficult market environment in Q3, ADLER’s sales decline of -2.4% (and just -1.2% like-for-l...Adler is engaged as a textile retailer in Germany. Co.'s product range is primarily tailored to those aged 45 and above. Co.'s product range includes a selection of womenswear, menswear and kidswear. Co. also provides a supplementary range of products consisting of accessories, footwear, kidswear and babywear, dress and goods. Co.'s brands include MyOwn, Viventy by Bernd Berger, Via Cortesa, Thea 42+, Eagle No.7. and its outdoor brand, eibsee.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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