XXL ASA (GB:0R3P) has released an update.
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XXL ASA reported a challenging third quarter of 2024 with a 7% decline in year-over-year growth, despite quarterly sales recovery and a slight improvement in Sweden due to interest rate cuts. The company is focusing on strict liquidity control, inventory reduction, and a financial solution involving a rights issue and loans to support working capital investments. XXL aims to reverse sales trends and strengthen its position as a leading sports retailer in the Nordics, with expectations for market recovery pushed to 2025.
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