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: Daniele Alibrandi - Stifel Financial Corp - Analyst
: Congrats for the results. Two questions and follow-ups. I'll start with the follow-up. First one is if you can give us an idea of what is the tax rate
guidance for this year? Second follow-up on Stefano, you mentioned double-digit growth in H2. I remember, H1 was minus 8%, Q3 plus 5%. So I
would say there has been -- there was an acceleration in Q4, just checking on this.
And the two questions are first one on gross margin. What should we expect for 2025 in terms of gross margin gains as we are seeing energy costs
decreasing? The US dollar is weakening, which should be helpful for your sourcing and also a potential resolution of the conflict in the Red Sea
could actually push freight rates down. So just want to check this with you.
And last question on Goldenpoint, if you can give us an update on the numbers last year, the strategy you wish to implement here, the cost of the
option and the potential synergies you can extract as basically market is not factoring anything there yet? And at some point later this year, I guess,
in September, we have to adjust the numbers. So thanks for the answers.
Question: Domenico Ghilotti - Equita SIM S.p.A. - Analyst
: My first question, if you can give us a sense of what was the performance compared to the market? So if you have a sense of your market share
performance in 2024 and any change in the competitive landscape?
The second question is on the CapEx. Well, in general, the CapEx level for this year, but more in particular, we should expect maybe also the mix
in CapEx change a little bit, so more dedicated to store openings and store refurbishment or say the same compared to last year?
And the third, you were mentioning in the press release also the opportunity to push the Beauty also through dedicated monobrand stores, just
if you can elaborate on this initiative also.
Question: Andrea Bonfa - Banca Akros SpA - Analyst
: My question is related to the month of May and June. Stefano, assuming that weather normalized, how much of sales would you recover compared
with last year in terms of absolute number? Are we talking of EUR40 million more, EUR30 million, EUR60 million? Just to have an idea.
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