Detskiy Mir Company News - 2Q 20 sales increased yoy, adjusted EBITDA to grow as well
Today, Detskiy Mir reported its 2Q 20 trading update, reporting revenue increasing by 2.9% yoy. Detskiy Mir stores LFL sales increased by 0.8% yoy as LFL ticket growth (+13.7%) more than offset LFL traffic decline (-11.3%). The company commented that it expects its 2Q 20 adjusted EBITDA to be higher yoy. We consider the trading update to be slightly positive as while the revenue growth was slightly below our expectations, July sales so far are strong (+24% yoy in the first 12 days of the month) and yoy growth in adjusted EBITDA means that it will likely be ahead of our estimates.Detskiy Mir PAO is a Russia-based company, which is primarily engaged in the children products retail sector. The Company offers a wide range of products, such as toys, clothing and footwear, baby goods, stationery, school and learning related products, creative kits, sport related products, food, car seats, furniture, among others. The Company's structure includes the chain of stores Detskiy Mir and the retail network ELC (Early Learning Center). The Company's Detskiy Mir chain comprises over 480 stores located on the territory of the Russian Federation and Kazakhstan, as well as more than 40 ECL stores. Detskiy Mir PAO is primarily active domestically and in the Commonwealth of Independent States (CIS) countries. In addition, the Company sells products online via its Website. The Company's major shareholder is AFK Sistema PAO.
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