(BFM Bourse) – The electronic label specialist announces several commercial successes in the United States, including the signing of a contract with one of the largest American chains of convenience stores. But the file is still threatened by the publication of the second part of the Gotham City Research report.
Thanks to its huge contract signed with Walmart last April, SES-imagotag has seen a red carpet roll out in the North American retail market. Several American companies have decided to trust the label manufacturer to support the digital transformation of their points of sale.
The electronic label maker announced Monday morning that it has signed a contract with one of the largest American convenience store chains, C-Store, to deploy its Vusion IoT Cloud cloud computing platform and smart labels on more than 800 C-Store points of sale.
The Vusion platform will enable retail chain C-Store to better manage its stores by automating and centrally controlling pricing and promotions, while streamlining its operations. The agreement between SES-imagotag and C-Store, the amount of which has not been communicated, extends over the next 12 to 18 months, specifies the French group.
6,000 points of sale in North America
At the same time, the company founded in 1992 announced the expansion of its partnership with one of the largest regional retailers in the United States. After “a successful deployment phase”, the unnamed company has chosen to expand the use of Vusion IoT and electronic tags developed by SES-imagotag to a total of 350 stores.
“Using the Vusion platform, this food retailer is now able to automate manual tasks and redeploy employees to focus on higher value-added customer-facing activities,” says SES- imagotag.
Another American company, but this time far from the food distribution sector, also favored the solutions developed by SES-imagotag. It is a “leading US home improvement specialty retailer” planning to adopt VUSION IoT Cloud platform and SES-imagotag electronic tags to improve customer experience in more than 250 stores. showrooms (showrooms) across the country.
“Thanks to the IoT solutions provided by SES-imagotag, the retailer’s customers will now benefit from a more intuitive online shopping experience thanks to real-time product pricing, stock levels and detailed product information. “, specifies the French group.
After the mega-contract won with the giant Walmart, the addition of these various contracts signed in the United States will bring the number of stores equipped with SES-imagotag solutions in North America to approximately 6,000.
On the Paris Stock Exchange, SES-imagotag is now losing 0.4% after having gained more than 3% from the first exchanges, in reaction to these various announcements.
Waiting for Gotham City Act II
SES-imagotag indeed remains under the close surveillance of investors, while Gotham City Research plans to draw the second part of its vitriolic note on the French group. The stock market file therefore remains very volatile before the date of publication of this second document, which is not yet known to the market.
Remember that SES-imagotag has been in turmoil since June 22, when Gotham City published a vitriolic research note on the French group. The short seller accused SES-Imagotag of having published “misleading, incorrect and deficient” financial reports between 2020 and 2022, in connection with its main shareholder, the Chinese BOE Technology.
SES-imagotag immediately stepped up to the plate and published two responses to the allegations made by Gotham City Research last week. On Thursday, the group counter-attacked based on a certificate produced by its auditors, Deloitte and KPMG, concerning the accounting for sales to BOE. For SES-imagotag, the document produced by these two firms “invalidates the central argument of Gotham City Research on which was based the accusation of double-counting of circular income with BOE and of overvaluation of turnover and results. in the consolidated financial statements as of December 31, 2022”
The French group also intends to take legal action on these attacks. He announced that he had “mandated his advice for the purpose of alerting the Financial Markets Authority to the numerous breaches committed by Gotham City Research” as well as the “national financial prosecutor’s office for the dissemination of false and misleading information”.
SES-imagotag took advantage of this latest development to reassure the market about the direction of its activity. The company announced that the first half of 2023 will be “the best half-year in history for the company”, with consolidated revenue growth of around +30% in line with its annual forecast. The company still expects to achieve annual sales of around 800 million euros.
Sabrina Sadgui – ©2023 BFM Bourse
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