2024-04-04 12:57:03 ET
Summary
- ASO reported 2.8% y/y revenue growth, driven by store openings, but same-store sales declined by 3.6%.
- Gross margin expanded, but operating expenses increased, leading to a decline in EBIT margin and lower-than-expected EPS.
- ASO plans to open 15-17 new stores in FY24 and focus on penetrating smaller markets, which could drive growth in the future.
Investment action
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