Whitbread : La prudence est de mise sur le titre, en attendant plus de visibilité (Brexit, asset management...). Alléger (vs Neutre)
>Baisse des ventes de 3.7% en organique au T1 ! - Les indicateurs d’activité au T1 (à fin mai), sont décevants pour Whitbread ; les ventes groupe au Royaume-Uni ressortent en baisse de -3.7% yoy en organique, en ralentissement séquentiel par rapport à la performance des derniers trimestres. L’Hôtellerie marque le coup avec une baisse organique significative à -4.6% (-0.6% sur l’exercice 2018-19) et des RevPar L/L en baisse de 6.0% sur le trimestre. A Londres (1/4 du r...Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.
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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