OVS shares jump on Q2 beat 'at all levels'

OVS SpA

21/09/2022 09:36

** Shares in OVS  OVS.MI  soar 14.7% after the Italian
clothing retailer reported quarterly results above expectations
    ** The company reported a 14.2% jump in its Q2 adjusted core
profit  urn:newsml:reuters.com:*:nL8N30R4VJ
    ** The CEO says the company expects FY results to
significantly improve over the previous year
    ** "Results are above expectation at all levels with higher 
than expected sales, EBITDA and lower debt," Banca Akros says
    ** The broker adds that higher volumes explain the higher 
profitability, which was also helped by small brands like 
Stefanel and Gap, which performed better than expected
    ** It adds that some upgrades in H2 EBITDA look likely given
the quarterly results and qualitative guidance
    ** The stock is on a 3-month high
    

 (Reporting by Alessandro Parodi)
 ((alessandro.parodi@thomsonreuters.com))