Metcash reported FY24 results which showed group revenue of
Notably the broker states, hardware was the key area of weakness, with like-for-like sales down -3.8%, for the trade division and total tools sales down -2.3%.
Food and Liquor was an offset, the analyst highlights with total supermarket revenue (ex-tobacco) up 4.7% year-on-year.
Management's FY25 trading update revealed continued weakness in hardware, with group sales flat year-on-year (ex-
The target price is lowered to
Sector: Food & Staples Retailing.
Target price is
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