Agree. But the real test was really H2 23. H1 23 was very good in particular because they had a lot of stores closed during H1 22. H2 23 was the real test as it was impacted by a sudden large deterioration of consumption, in particular during Q4.
I was not expecting such a good performance for H2 : lfl sales increase, slight increase of gross margin and good level of inventory at the end of the period. That's a good performance vs the other retailers and in particular the ones who are targeting the same demographics.
AX1 Price at posting:
$1.85 Sentiment: Buy Disclosure: Held
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