Financial PerformanceManagement's 2H outlook trails expectations by 11-80%, leading to an underweight rating and a wait for clearer signs the model can stabilize.
Growth ChallengesDiscretionary spending headwinds, intense competition, tariff related pricing increases, and a delayed product launch all remain challenges to growth and profitability.
Market CompetitionTopline challenges persist due to weakening consumer sentiment/spending intentions and elevated competition, especially in AsiaPac.