MAISONS DU MONDE : Oddo BHF significantly reduces its target price
In a press release published yesterday evening after the close of trading, the Maisons du Monde group indicated that Q3 sales had been disappointing.
As a result, the group has lowered its expectations for the year as a whole, and is now forecasting a 10% drop in sales, so that Q4 should remain under pressure (around -10%).
In terms of EBIT, while the initial guidance was based on a range of between €65m and €75m, this is now €40m to €50m.
For its part, Oddo BHF is once again revising its EBIT expectations downwards by 30% (EPS 2023e: -47.6%) and indicates that 'new measures and a transformation plan are expected in the first quarter of 2024'.
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