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Verkkokauppa.com: Old gadgets good for now - SEB

The market has remained tough during Q2. Our web traffic survey shows that Verkkokauppa.com’s unique visitors were down 13% y/y in April-May. In addition, we see that the market has been price-driven and we forecast gross margin down 10bp q/q in Q2 (up 50bp y/y). Verkkokauppa.com built KPIs as well as carried out cost cuts last year, so it is ready to benefit when consumers are back online and in stores.

The market has remained tough during Q2. Our web traffic survey shows that Verkkokauppa.com’s unique visitors were down 13% y/y in April-May. In addition, we see that the market has been price-driven and we forecast gross margin down 10bp q/q in Q2 (up 50bp y/y). Verkkokauppa.com built KPIs as well as carried out cost cuts last year, so it is ready to benefit when consumers are back online and in stores.
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