Cash-flow VolatilityIntermittent negative free cash flow and volatile cash metrics raise liquidity and operational risk. Over the medium term this can constrain marketing, inventory and fulfillment investments or force external financing at unfavorable terms, limiting strategic flexibility.
Moderate Balance-sheet/leverage RiskAlthough leverage has improved to 0.80, the history of higher indebtedness means refinancing or demand shocks could stress liquidity. A moderate equity ratio limits shock absorption and could raise funding costs or restrain expansion if cash flows weaken.
Modest Revenue GrowthLow single-digit TTM revenue growth suggests limited top-line momentum versus peers. In the medium term, weak top-line expansion increases reliance on margin improvement and cost control to drive returns, and may limit scale advantages in marketing and logistics.