Nelly Group, a market leader in the young women’s segment of the online fashion market, plans to report Q1 results on 28 April. While Q1 saw reinstated pandemic-related restrictions, we believe focus will be on private label sales (main category being party and occasional wear) and related management comments as a gauge for the looming reopening case. We reiterate our financial forecasts and our mid-point DCF-based equity value of SEK 55.
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