Ceconomy : Q2 better and outlook confirmed, but consumer spending and sourcing remain at risks
>Q2 with clear recovery vs last year - In Q2 2022 (ending March) Ceconomy sales increased 18% y-o-y on a like-for-like basis to € 5,019m (cons: € 4,766m, ODDO BHF: € 4,588m). This was 5% above consensus expectations with all regions contributing but also driven by easy comps. Regions: DACH +23%, Western/Southern Europe +9%, Eastern Europe +34%. Channels: Offline sales recovered after store closures last year and in line with that also Services and Solutions sales (+5...Metro is a holding company. Through its subsidiaries, Co. is engaged in retail and wholesale. Co.'s operations are divided into four divisions: Metro Cash & Carry, Real, Media-Saturn and Galeria Kaufhof. The Metro Cash & Carry division operates in the cash and carry sector in Europe, Asia and Africa. The Real division is a hypermarket operator in Germany where it operates both stationary stores and an online store. The Media-Saturn division provides an assortment of brand products in consumer electronics retailing. The Galeria Kaufhof division operates department stores in Germany and Belgium. Co. is also a property manager through METRO PROPERTIES GmbH & Co. KG.
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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