Verkkokauppa.com has struggled with declining sales for 13 quarters in a row. That has forced the company to focus on its cost base, which is bearing fruit, as it looks like the tide is finally turning. At least it looks like it. Verkkokauppa.com posted 2.4% y/y sales growth with a record gross margin (up 150bp y/y) and tight cost base (adj. fixed costs down 2% y/y), leading to EBIT beating our forecast and consensus by a wide margin.
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