Ahead of Q2 results, we increase our financial forecasts based on increased margin assumptions. As Nelly Group, a market-leading online retailer of women’s fashion, is continuing to implement its new strategy, focusing on increasing its share of PL sales, tightening its assortment and driving cost management, we expect these measures to combine to drive positive EBIT as of Q2 onwards. We raise our mid-point equity value to SEK 12.50 (11).
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