Metro Brands - In-Line Results; Pace of Store Additions to Pick up in FY26
Metro Brands (MBL) reported in-line 3Q results, with revenue growth recovering to ~11% YoY (vs. 5% YoY in 2Q), driven by a 43% YoY growth in E...
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Metro Brands - Soft Demand but Futuristic Investments Continue
We cut our FY25/26/27 EPS estimate 2.4/4.1/4.5% given 1) persistent tepid demand 2) Tepid store economics led by lower SSG & opening up of store in...
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Metro Brands - Prudently Diversifying Across TAM; Initiate with BUY
Metro’s formats are a one-stop-shop for footwear across a wide range of price-points (ASP: Rs700-12,000); also, it is gradually evolving into a...
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Metro Brands - Weak Gross Margin Led to 2Q Miss; Growth to Pick up in 2H
Metro Brands (MBL)’s revenue grew 5% YoY (in line, -1% YoY in 1Q), driven by ~9% YoY area additions. Gross profit grew 2% YoY (3% miss)
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Metro Brands - Worst Seems Over, Hold for LT Gains
Metro brands saw muted 1Q amid lower wedding days and poor demand however worst seems over as 1) 2Q is showing some green shoots across brands
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