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個月發佈最新數據之前，斯蒂費爾表示，隨着歐洲的疲軟被其他市場的增長勢頭抵消，這家意大利奢侈品公司的銷售額在第三季度應該會加快。斯蒂費爾説，儘管國際旅遊業的持續匱乏可能會使歐洲的銷售額仍遠低於大流行前的水平，但美國和中國的勢頭應該會繼續下去，而拉美當地的需求正在回升。這家金融服務公司説，總體而言，這應該意味着季度銷售額為2.62億歐元，比2019年第三季度下降約9%，與第二季度28%的缺口相比有顯著改善，零售推動表現依然疲軟，並維持對菲拉格慕股票的持有評級和19歐元的目標。(joshoa.kirby@wsj.com；@joshoaleokirby)