Nelly Group Q2 report was strong in a challenging market, with net sales of SEK 362m, up 15% y/y (6% ahead of SEB), and EBIT of SEK 55m (53% ahead of SEB) as EBIT margin expanded 5.6pp y/y to 15%. Sales were supported by a well received spring/summer collection, and the beat on EBIT by improvements across most key KPIs across the PnL. Our current mid-point value of SEK 52 is under review. Expect shares to outperform today.
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