Bildkälla: Stockfoto

Footway: Pandemic issues weigh on short-term growth - SEB

Available market data for online site traffic and AOV developments during the important high season (i.e. Black Week) suggest weaker online retail trading. Adding concerns on supply chain amid Covid-19 restrictions, we cut our sales growth and gross margin forecasts for Footway Group in mainly Q4 – and in Q1 2022. Still, our sales estimates imply a 28% CAGR over 2021-23. Our revised mid-point DCF-based equity value equals SEK 30 (SEK 39).

Available market data for online site traffic and AOV developments during the important high season (i.e. Black Week) suggest weaker online retail trading. Adding concerns on supply chain amid Covid-19 restrictions, we cut our sales growth and gross margin forecasts for Footway Group in mainly Q4 – and in Q1 2022. Still, our sales estimates imply a 28% CAGR over 2021-23. Our revised mid-point DCF-based equity value equals SEK 30 (SEK 39).
Börsvärldens nyhetsbrev
ANNONSER