The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Domenico Ghilotti - Equita SIM - Analyst
: Good afternoon. A few questions. The first is on the latest topics on the new labor contract. So if you can help us in understanding how it works
and so what will be the impact this year and next year.
Second question is on the first quarter. I'm trying to understand if you can provide any comment on what is the gross margin improvements and
what are the trends in the operating costs, so particularly labor and rent.
And the third question is on the capital allocation. You have already touched the topic of the CapEx. If I understood well, you are saying that for
the full year, it will be slightly below last year level. And how do you want to proceed with the buyback and do you have any M&A opportunities
going forward that you are looking at? Thank you.
Question: Domenico Ghilotti - Equita SIM - Analyst
: Okay, thank you. If I just may follow up with the last question on the working capital, in particular, I wonder if the current level of inventory is fine
for you, so it's optimal, or if you still have some, let's say, carry-forward extra inventories that you got from the previous season that is still sitting
there.
Question: Domenico Ghilotti - Equita SIM - Analyst
: Okay, thank you.
Question: Daniele Alibrandi - Stifel Nicolaus Europe Limited - Analyst
: Yes, good afternoon. Thanks for taking my questions. I have three. First one, what was the like-for-like in Q1? Second question was regarding the
-- if you can update us on the projects that you presented last year. And what are the strategic priorities going into H2 and next year? And also, if
you can provide for the full year, let's say, a kind of indication in terms of space expansion. Thank you.
Question: Daniele Alibrandi - Stifel Nicolaus Europe Limited - Analyst
: Space, yes, exactly.
Question: Daniele Alibrandi - Stifel Nicolaus Europe Limited - Analyst
: Thank you.
Question: Domenico Ghilotti - Equita SIM - Analyst
: I have a question. Just a clarification, because you mentioned before that UPIM performance has been driven also by the fact that they were not
affected by the Suez issue. And I'm trying to better understand also, if I look at the performance of the franchising compared to DOS in Q1, if I'm
not wrong, franchising was a bit lower than DOS. So just to be sure that I understood properly your message there.
Question: Domenico Ghilotti - Equita SIM - Analyst
: Okay. So at UPIM level, it was stronger and is explaining from a brand perspective the performance of UPIM.
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affiliated companies.
JUNE 13, 2024 / 1:00PM, OVS.MI - Q1 2024 OVS SpA Earnings Call
Question: Domenico Ghilotti - Equita SIM - Analyst
: Okay, very clear now, thanks. And in terms of supply chain disruption, so you are saying, okay, you are still having the extra inventory because it
takes longer, but you don't have any particular issues now that --
Question: Domenico Ghilotti - Equita SIM - Analyst
: Okay, thank you.
Question: Luca Bacoccoli - Intesa Sanpaolo SpA - Analyst
: Hello, good afternoon, everyone. Can you hear me?
without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its
affiliated companies.
JUNE 13, 2024 / 1:00PM, OVS.MI - Q1 2024 OVS SpA Earnings Call
Question: Luca Bacoccoli - Intesa Sanpaolo SpA - Analyst
: Okay, good. So, two questions from my side. The first one regards the kids segment. So it seems that in the last maybe two or three quarters, this
category is performing less than the other two. So I was wondering how the competitive environment is in the kids segment. How are you reacting
to the competition?
And the other one regards the profitability of the first quarter. You mentioned the impact due to the sale of last season collection. So I don't know
if it's possible to have this kind of indication. But what would be the profitability in the first quarter, excluding the delayed delivery of stock for OVS
and for the overall group?
Question: Luca Bacoccoli - Intesa Sanpaolo SpA - Analyst
: Okay, thank you.
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