SIGNA Sports United downgraded by Jefferies with a new price target
$SSU
Other Specialty Stores
Consumer Discretionary
Jefferies downgraded SIGNA Sports United from Buy to Hold and set a new price target of $4.00 from $8.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/10/2023 | $3.90 → $1.90 | Neutral → Sell | Citigroup |
| 2/13/2023 | $8.00 → $4.00 | Buy → Hold | Jefferies |
| 12/13/2022 | $6.20 | Neutral | Citigroup |
| 1/13/2022 | $11.00 | Buy | Jefferies |
Strategic realignment and cost initiatives of up to €100 million implemented H1 FY23 net revenue of €441 million, YoY reported change of -2% Subdued demand and market overstock weighing on financial results and liquidity Active Customers of 6.1 million, representing a decrease of (-15)% YoY Net Revenue of €441 million in H1 FY23 down (-2)% YoY, Q2 FY23 Net revenue decreased (-23)% YoY Gross profit of €117 million in H1 FY23 and €44 million in Q2 FY23 Adj. EBITDA decreased to (€97) million in H1 FY23 and (€59) million in Q2 FY23 Secured €150 million commitment from major indirect shareholder to fund the operations of the business into FY25 SIGNA Sports United N.V. ("SSU" or
SIGNA Sports United ("SSU" or the "Company"), a global specialist sports e-commerce company listed on the New York Stock Exchange, today announced that the Company's second quarter fiscal 2023 financial results will be released before the markets open on Wednesday June 28, 2023. SSU's management will host a conference call on June 28, 2023 at 8:30 a.m. Eastern Time to discuss the results. Interested parties will be able to access the conference call by dialing 1-855-9796-654 (in the United States) or +1- 646-664-1960 (outside of the United States), along with access code 424915. The conference call will be simulcast and archived on SSU's website at https://investor.signa-sportsunited.
Q1 FY23 net revenue of €246 million, YoY growth of +27%1 Overstocked market impacting Q1 FY23 gross margin, as expected Continued focus on strategic realignment assessment and cost reduction measures Active customers of 6.3 million, representing an increase of +26% YoY Net revenue up +27% to €246 million in Q1 FY23 Gross profit at €73 million in Q1 FY23 SIGNA Sports United N.V. ("SSU" or the "Company"), a NYSE-listed specialist sports e-commerce company with businesses in bike, tennis, outdoor, and team sports, today issued a trading update for the first quarter of fiscal year 2023 ended December 31, 2022. Q1 FY23 includes full contribution of businesses acquired in FY22, WiggleCR
Subdued demand and market overstock continue to severely adversely impact the Company's financial results and liquidity Key restructuring measures include the termination or winding down of non-performing assets, the rightsizing of under-performing business units as well as the evaluation of disposals of non-core assets In connection with the strategic realignment the Company will delist its shares from the NYSE and terminate its SEC reporting requirements The role of the current CEO of Internetstores, Torsten Waack van Wasen, will be expanded to join the management team as Chief Performance Officer (CPO) of the Group. SIGNA Sports United N.V. ("SSU" or the "Company"), a specia
SIGNA Sports United N.V. ("SSU" or the "Company"), a NYSE-listed specialist sports e-commerce company with businesses in bike, tennis, outdoor, and teamsports, today announced the appointment of Mr. Anthonie Anbeek to its Board of Directors, effective April 1, 2024. Mr. Anbeek, an experienced Consumer products and Bicycle industry executive, most recently as CEO of leading bicycle manufacturer Accell Group is expected to bring a wealth of leadership and strategic insights to support SSU's growth strategy. During his successful tenure at Accell Group, Mr. Anbeek navigated the company through a critical phase of growth transforming Accell Group into Europe's market leader in e-bikes. In a
SIGNA Sports United, the world's leading e-commerce and technology platform, today announced the appointment of Hap Seliga, a renowned founder, executive and advisor in the cycling industry, as head of its North American bike operations, as the firm pivots to growth in the US bike market. SIGNA Sports United's recent listing on the NYSE and acquisition of Wiggle CRC, creating the largest online bike retailer in the world, positions the firm well to take advantage of US market opportunities as the sports ecommerce industry experiences explosive growth. Seliga has enjoyed a long and impressive history as a leader in the cycling community in the United States achieved largely through a diffe
Tennis-Point GmbH, one of the major subsidiaries of SIGNA Sports United N.V, has filed for insolvency Other legal entities of the SIGNA Sports Group, including SIGNA Sports United N.V. as ultimate parent company of the SIGNA Sports United Group, are in the course of preparing the initiation of insolvency proceedings in the coming days Following the termination of the binding, unconditional equity commitment letter by SIGNA Holding GmbH on October 16, 2023 and the lack of funds to cover the operational financing needs of the SIGNA Sports United entities resulting therefrom, Tennis-Point GmbH, one of the major subsidiaries of SIGNA Sports United N.V., a specialist e-commerce company w
SIGNA Holding today informed SSU of the termination of the unconditional EUR150 million Equity Commitment Letter The availability of funds under the unconditional Equity Commitment Letter from SIGNA Holding GmbH constituted the basis of Management's going concern and liquidity assumptions and thus the Company will evaluate appropriate measures The Company believes the termination of the unconditional Equity Commitment Letter by SIGNA Holding GmbH is unjustified The Company will take appropriate legal steps in the interests of all its shareholders creditors, and employees SIGNA Sports United N.V. ("SSU" or the "Company"), a specialist sports e-commerce company with businesses in
Subdued demand and market overstock continue to severely adversely impact the Company's financial results and liquidity Key restructuring measures include the termination or winding down of non-performing assets, the rightsizing of under-performing business units as well as the evaluation of disposals of non-core assets In connection with the strategic realignment the Company will delist its shares from the NYSE and terminate its SEC reporting requirements The role of the current CEO of Internetstores, Torsten Waack van Wasen, will be expanded to join the management team as Chief Performance Officer (CPO) of the Group. SIGNA Sports United N.V. ("SSU" or the "Company"), a specia
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Citigroup downgraded SIGNA Sports United from Neutral to Sell and set a new price target of $1.90 from $3.90 previously
Jefferies downgraded SIGNA Sports United from Buy to Hold and set a new price target of $4.00 from $8.00 previously
Citigroup initiated coverage of SIGNA Sports United with a rating of Neutral and set a new price target of $6.20