NEXT: Leading UK Retailer Should Recover From “Perfect Storm”

Oddmund Enaes of Pareto Asset Management presented his in-depth investment thesis on NEXT (London: NXT) at European Investing Summit 2017.

NEXT is a UK-based retailer. UK retailing has been hit by an almost perfect storm: Brexit, channel shift from store to online, and devaluation of the British pound. This macro environment has brought the share price to less than ten times free cash flow for what Oddmund believes to be one of the leading retailers in Europe with one of the best management teams in the business.

About the instructor:

Oddmund Nicolaisen Enæs is a portfolio manager at Pareto Asset Management. He has been with Pareto since 2014 and previously served as analyst for Pareto Total. Oddmund has gained analytical and M&A experience since 2010. He holds an MSc degree in accounting and auditing from the Norwegian School of Economics in Bergen.

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