Ferragamo Sales Seen Improving in 3Q as China, US Maintain Impetus -- Market Talk
Ferragamo Sales Seen Improving in 3Q as China, US Maintain Impetus -- Market Talk
1517 GMT - Salvatore Ferragamo's sales should pick up pace in 3Q as European weakness is offset by momentum in other markets, Stifel says ahead of the Italian luxury-goods company's update next month. While a continued dearth of international tourism is likely to leave Europe sales still well below pre-pandemic levels, momentum should continue in the U.S. and China, while Latin American local demand is picking up, Stifel says. Overall, this should mean quarterly sales of EUR262 million, around 9% lower than 3Q 2019--a notable improvement from the 28% gap booked in 2Q, with retail driving performance as wholesale remains soft, the financial-services firm says, keeping a hold rating and EUR19 target on Ferragamo stock. (joshua.kirby@wsj.com; @joshualeokirby)
1517GMT-意大利奢侈品公司菲拉格慕下个月发布最新数据之前，斯蒂费尔表示，随着欧洲的疲软被其他市场的增长势头抵消，这家意大利奢侈品公司的销售额在第三季度应该会加快。斯蒂费尔说，尽管国际旅游业的持续匮乏可能会使欧洲的销售额仍远低于大流行前的水平，但美国和中国的势头应该会继续下去，而拉美当地的需求正在回升。这家金融服务公司说，总体而言，这应该意味着季度销售额为2.62亿欧元，比2019年第三季度下降约9%，与第二季度28%的缺口相比有显著改善，零售推动表现依然疲软，并维持对菲拉格慕股票的持有评级和19欧元的目标。(joshoa.kirby@wsj.com；@joshoaleokirby)