Shares of Watts rise for the third consecutive day, breaking above the 25-day moving average as March same-store sales grow for the sixth straight month.
Shares of Watts <2735> rose for the third consecutive day, breaking above the 25-day moving average. The rally followed the company's release of March monthly sales figures after the market close on the 6th. Same-store sales for its directly operated 100-yen shops surged 7.0% year-on-year, marking the sixth consecutive month of growth. Investors particularly cheered the significant acceleration in momentum compared to February's 2.8% increase.
On an all-store basis, sales for directly operated 100-yen shops rose 7.4% year-on-year. During the month, the company continued to optimize its retail footprint, opening 16 new stores and closing 14, resulting in a net increase of two locations.
Source: MINKABU PRESS
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