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As discussed in our most recent research (Footway – “A perfect storm”, 3 February 2022), the retail industry and Footway Group are experiencing significant supply chain issues. Moreover, weaker date for market site traffic and sales suggest a slowdown in retail demand. Footway is now guiding for Q1 sales to be down SEK 100m y-o-y (and for losses to widen y-o-y), and we adjust our forecasts accordingly. Our revised mid-point value is SEK 20 (26).
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