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"The gross margin has been strengthened in recent years, but the weakness of the Swedish krona and the rise in raw material costs make it difficult to maintain a high gross margin," writes Kepler Chevreux in his analysis of Kappahl.
Kepler Cheuvreux concludes that a comparable 3% sales growth in the third quarter of Kappahl marked an improvement in the company's momentum. However, Kepler Chevreux adopts a cautious attitude because the change of fashion in fashion seems more difficult than the first analysis and the margin could be weakened.
Kepler Cheuvreux said in an analysis released Thursday, where the recommendation has been scaled down. keep a change that the news agency reported directly.
Kappahl had a difficult start in 2018 with a profit of half and a drop in sales of 7%. However, in the third quarter, comparable sales followed an improved market and successful campaigns.
The analysis firm has raised its estimate for 2019, but believes that the price increase has been excessive recently.
Kepler Cheuvreux sees a risk in the sense that the margin goes down and profits can continue to fall. The gross margin has been strengthened in recent years, but the weakness of the Swedish krona and the rising costs of raw materials make it difficult to maintain a high gross margin.
The price was raised to SEK 31 at SEK 31. On Thursday, the stock traded at 33:40, a decrease of 3%.
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