(Boursier.com) — Ecomiam fell by nearly 4% to 10 euros this Friday, while the group achieved store sales of 8.8 ME in the 2nd quarter of 2021/22, up 12% compared to the same period over the financial year previous. During this quarter, Ecomiam continued to expand its network with 3 new affiliated stores in Caussade, Neufchâtel-en-Bray and Lesneven. On a like-for-like basis, sales fell by -19.6%. Over the half-year, turnover reached 18.59 ME (+21.8%, but -16.2% on a like-for-like basis).
The change on a like-for-like basis (-16.2% compared to 2020/21 and +0.5% compared to 2019/20) results from several factors explains the group, including a more difficult environment, marked by the inflationary context , which impacts the behavior of
consumers. The group also mentions the gradual rise in power of points of sale in new regions in the process of commercial conquest. And a high basis of comparison with growth of +48.5% in the 1st half of 2020/21.
“These disappointing figures do not, in our view, call Ecomiam’s model into question”, comments Portzamparc, for whom the higher communication expenditure and a better selection of locations and future affiliates (1,500 unsolicited applications) should allow the group to reach the store development goals. Verdict: “stay on the buy side aiming for a course of 16 euros”…
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