Always risky to focus on short term period sales.
However, there are signs that their sales may have bottomed since mid May :
- Mother's day week (mid May) was up 10 % yoy,
- last 5 weeks of H2 24 saw a sales increase of 0.4 % yoy,
- sales up 28 % for the first 2 weeks of FY 25.
Based on the company's press release, there are 2 main explanations : product rejuvenation and "enhanced execution of our online channel in the later part of H2 24" with a "website relaunch in June 24.
They may also have benefited from a better level of consumption during H2 (vs H1), as indicated by other consumer related companies (cf Accent, Step One).
Ann: FY24 Trading Update, page-24
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