Arttu has put together the Q2 preview report, as Verkkis (Verkkokauppa.com) will be reporting its results tomorrow. 
We expect earnings to have continued their decline as an uncertain operating environment weighs on consumer sentiment and demand. The outlook for the remainder of the year is better than before due to strengthened consumer confidence, which is why we have raised our forecasts. Despite this, we expect a clear profit warning, which the market has already priced into the stock. Supported by earnings growth emerging next year, we see the stock’s return expectation as sufficient. We reiterate our “accumulate” (lisää) recommendation and raise the target price to 3.5 euros (2.9e), driven by our forecast revisions.