Maisons du Monde set for worst day ever after H1 results

Maisons du Monde SA

30/07/2019 09:27

** Shares in French home decor retailer Maisons du Monde
 MDM.PA  drop 14% and are set for the worst day ever after the
company published its half-year results on Monday
    ** H1 EBITDA fell 4.9% and net income dropped 10.8%, and the
company reiterated its guidance for 2019  urn:newsml:reuters.com:*:nW8N1M901W
    ** JP Morgan says MdM's gross margin decline was "deeper
than anticipated", with FX pressure exacerbated by higher
promotional activity
    ** Bryan Garnier says that, despite satisfying Q2 growth and
the fact that MdM is mainly seen as a growth stock, it expects a
negative reaction given the noticeable EBITDA miss
    ** Stock is at the bottom of France's SBF120 Index  .SBF120 
   

 ((bruno.dubrulle@thomsonreuters.com))