2340 GMT - Clothing retailer Accent adds Citi as a bull following its 1H result. Analyst Sam Teeger says one reason why he is incrementally more positive about Accent is that FX appears to be less of a risk to gross margins in 2H than previously thought. Citi believes that Accent can sustain its recent improvement in like-for-like sales as consumer confidence strengthens. Also, Accent still has plenty of room for growth via private label brands, Citi says. "Taking this into account, along with the 10% share price decline since the trading update in January, we upgrade our rating to Buy (from Neutral)," says Citi. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 23, 2025 18:40 ET (23:40 GMT)
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