Q1 2019 OVS SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the OVS First Quarter 2019 Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Stefano Beraldo, CEO of OVS. Please go ahead, sir.
Good afternoon to everyone, joining this conference. We'll start giving you a few comments about the market that was still tough in the period. In spite of it, our market share increased continuously by another 15 basis points in April and net sales remained stable compared to the first quarter of last year. Modest expansion of the network in this first quarter, more -- some more stores will be opened in the second quarter. And EBITDA basically in line with our expectations, lower by EUR 5 million compared to the same quarter last year.
As a result of the higher markdown, which are somehow the tail of the heavy markdown period started in August -- July, mostly August 2018 and continued during the month of,
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