Ferragamo's So-So 3Q Unlikely to Set Market Alight, Citi Says -- Market Talk
Ferragamo's So-So 3Q Unlikely to Set Market Alight, Citi Says -- Market Talk
0600 GMT - Salvatore Ferragamo's third-quarter results are unlikely to illicit much market enthusiasm, with the exit rate weak and current trading volatile, Citi's Thomas Chauvet says. The Italian maker of leather goods posted 3Q sales and operating profit above expectations, but not to the same extent as the previous quarter. Management, meanwhile, highlighted a retail exit rate likely down over two years, with an improvement in October but renewed concerns this month amid resurgent coronavirus cases in Asia, Chauvet notes. The share price is as such unlikely to get much of a fillip from the print, though a continued discount to the sector, and the imminent arrival at the top of former Burberry boss Marco Gobbetti, are reason for more optimism ahead, Chauvet says. (joshua.kirby@wsj.com)
0600GMT-花旗(Citi)的託馬斯·肖韋(Thomas Chauvey)表示，塞爾瓦託·菲拉格慕(薩爾瓦多Ferragamo)第三季度的業績不太可能激起市場太多熱情，因為退出速度疲軟，目前的交易也不穩定。這家意大利皮具製造商公佈的第三季度銷售額和營業利潤高於預期，但程度低於上一季度。肖維指出，與此同時，管理層強調，零售退場率可能在兩年內下降，10月份有所改善，但隨着亞洲冠狀病毒病例的捲土重來，本月再次引發擔憂。肖維表示，因此，股價不太可能從業績中獲得太大提振，儘管相對於該行業的持續折扣，以及巴寶莉(Burberry)前老闆馬爾科·戈貝蒂(Marco Gobbetti)即將上任，都是未來更加樂觀的理由。(joshoa.kirby@wsj.com)