OVS jumps by 5% as start of Q4 bodes well

OVS SpA

16/12/2022 08:47

** Shares in Italy's OVS  OVS.MI  rise over 5% as the
company unveiled a promising start of the last quarter of the
year
    ** The Italian clothing retailer said on Thursday that sales
for the first 45 days of Q4 have increased by 10% on a yearly
basis
    ** Banca Akros upgrades the Italian clothing retailer to
'buy' from neutral saying that "clearly, the Q4 sales
performance is much higher of our expectation"
    ** It now sees end-of-year sales and EBITDA growth at 8% and
7% respectively, while it increases earnings-per-share for both
2022 and 2023 by 14%
    ** Equita says that the normalisation of weather conditions
has resulted in a strong boost to sales, as CEO Stefano Beraldo
had already anticipated in November
    ** At 0841GMT shares in OVS are up 4.0%, outperforming the
FTSE All-Share  .FTITLMS  index which is down 0.2%
 (reporting by Carlo Giovanni Boffa, editing by Alvise
Armellini)
 ((Carlogiovanni.boffa@thomsonreuters.com))