This post was originally published on this site
https://i-invdn-com.investing.com/news/LYNXNPEC0Q0MJ_M.jpg
Rexel reported a 3.1% drop in Q3 sales, amounting to 4.7 billion euros ($4.97 billion). However, on a same-day basis, the company saw a sales increase of 2.6%, demonstrating some resilience amidst challenging market conditions.
The performance of non-wire products, a crucial factor for Rexel’s performance, was underwhelming with only a 1.3% rise in prices. This failed to meet Citi’s anticipated increase of between 2-3%, adding to market skepticism about the company’s performance.
Despite these setbacks and contrary to market expectations, Rexel maintained its full-year guidance. This move signals the company’s confidence in its business strategy and its ability to navigate through the current market headwinds.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
