Xtep International Delays Key Circular Release
XTEP INT'L: DELAY IN DESPATCH OF CIRCULARIN RELATION TOTHE ANNOUNCEMENTS DATED 9 MAY 2024 AND 23 MAY 2024
Citi: Maintains a 'neutral' rating on xtep int'l (01368) with a target price of HK$4.9.
Citi expects xtep int'l (01368) to have a 10% increase in annual sales revenue and a 12% increase in net income.
[Brokerage Focus] GTJA maintains XTEP INT'L (01368) 'shareholding' rating and expects its annual revenue to grow by high single digits.
Jingwu Caixun | Guotai Junan issued a research report, Xtep Int'l (01368) main brand has continued the trend of June in July, and is expected to achieve mid to high single-digit growth in revenue throughout the year. 1) Trend: The trend in July continues the trend of June, still affected by adverse weather conditions, but considering the base effect, the bank expects the annual trend growth rate to be more than 10%. 2) Income: It is expected to achieve mid to high single-digit growth in 2024 (previously guided as high single to 10%), with a growth rate lower than that of trend, mainly due to the optimization of H1 inventory and discounts. The bank pointed out that the growth of the company's professional sports in H1 exceeded the annual guideline, and the progress of KP stripping was in line with expectations. 1) Professional sports: H1
Hong Kong stocks fluctuate | Xtep Int'l (01368) fell by more than 3%. Inventory and discounts in the second quarter have improved, while same-store sales have dropped by a low unit number.
Xtep Int'l (01368) fell more than 3%, as of press time, the stock fell 3.26%, to HKD 5.04, with a turnover of 12.4431 million HKD.
Xtep International Poised for Growth: A Comprehensive Buy Rating Analysis
Nomura Adjusts Xtep International's Price Target to HK$6.70 From HK$6.80, Keeps at Buy
03:31 AM EDT, 07/12/2024 (MT Newswires) -- Nomura Adjusts Xtep International's Price Target to HK$6.70 From HK$6.80, Keeps at BuyPrice (HKD): $5.35, Change: $+0.35, Percent Change: +7.00%
Nomura: Rated xtep int'l as "buy", target price decreased to HKD 6.7.
Nomura released a research report stating that it gave Xtep Int'l (01368) a "buy" rating, with the target price lowered from 6.8 Hong Kong dollars to 6.7 Hong Kong dollars. The company's growth accelerated in the second quarter of this year, and inventory and discount levels have improved. Xtep management reaffirmed its 2024 fiscal year guidance, that is, to achieve a retail sales growth of more than 10%, income growth in the middle to high unit numbers, and improve inventory levels. Nomura believes that through flexible cost control strategies, Xtep is expected to achieve its 2024 fiscal year business guidance. The bank cited Xtep's 2Q24 operating data, showing online sales up more than 25% year-on-year, and offline sales up year-on-year.
Sporting goods stocks rise. Li Ning (02331) is up 6.23%. Citic Securities expects top shoe and clothing suppliers to continue to benefit.
Jingu financial news | Sporting goods stocks rose across the board. As of the time of publication, Li Ning (02331) rose 6.23%, China Dongxiang (03818) rose 4.84%, Anta Sports (02020) rose 4.67%, and Xtep International (01368) and 361 Degrees (01361) followed the upward trend. Citic Securities' research report stated that as the supply chain gradually recovers, inventory issues among major sports brands are gradually being resolved. The competitive factors of the sports shoes and clothing industry have undergone important changes, and each brand is focusing on sports technology research and development to meet the differentiated needs of consumers. In recent years, major sports brands have successively focused on their own unique technology research and development, and currently, sports technology
HKEx News | Xtep Int'l (01368) rose more than 4%, with the stable growth in revenue of its main brand in Q2 and healthier inventory turnover.
According to the Zhītōng Cáijīng app, Xtep Int'l (01368) has risen more than 4%. As of press time, it rose 4.4% to HKD 5.22, with a turnover of 15.8879 million HKD. On the news front, Xtep Int'l announced yesterday that its main brand achieved a YoY growth of 10% in retail sales (including online and offline channels) for the three months ending June 30, 2024, with a retail discount level of about 25%; and a high double-digit YoY growth in retail sales (including online and offline channels) for the six months ending June 30, 2024, with a channel inventory turnover of about four months. CICC believes that the overall channel sales of the Xtep main brand in Q2 have increased by 1% YoY.
CICC: Maintains Xtep Int'l's "outperform" rating in the industry, target price reduced to HKD 6.08.
CICC released a research report stating that it maintained a "outperform" rating on xtep int'l (01368) and the EPS forecast for 2024/25 remains unchanged at 0.45/0.52 yuan. Considering the decline in industry valuation center, the target price has been lowered by 8% to HKD 6.08. In 2Q24, the retail revenue of Xtep's main brand increased by 10% YoY, with a retail discount of about 75%; The revenue of Xtep's main brand in 1H24 increased by a high single-digit YoY growth, and the channel inventory turnover is about 4 months. CICC's main points of view are as follows: the growth of main brand's revenue in 2Q24 is steady, and online is the main driving force. In 2Q24, the revenue of the main brand of Xtep increased by 10% in all channels, and the main...
CICC: Maintain xtep int'l (01368) with an "outperform" rating, target price lowered to HKD 6.08.
CICC predicts that xtep int'l's EPS for 2024/25 will be 0.45/0.52 yuan.
Xtep International Retail Sell-Through Up 10% in Q2
Xtep International Holdings (HKG:1368) recorded a 10% year-on-year retail sell-through, which includes growth for its online and offline channels, for the quarter ended June 30, a Thursday bourse
HKEX moves: Xtep Int'l (01368) rose more than 5% in the afternoon. The retail sales of the main brand in the second quarter increased by 10% year-on-year.
Xtep Int'l (01368) rose more than 5% in the afternoon and, as of press time, rose 5.53% to HKD 4.96 with a turnover of HKD 23.209 million.
Xtep Reports Solid Mid-Year Growth in 2024
Xtep International Holdings Limited reports a 10% year-on-year growth in retail sell-through for the second quarter of 2024 and a high single-digit growth for the first half of the year across both offline and online channels.
xtep int'l (01368.HK): achieved high double-digit year-on-year growth in retail sales of main brand in Mainland China in the first half of the year.
On July 11, GeLongHui reported the operating situation of Xtep Int'l's domestic business in mainland China for the second quarter and first half of 2024. In the three months ending June 30, 2024, the retail sales of Xtep's main brand (including online and offline channels) achieved a 10% year-on-year growth; the retail discount level was about 25% off, and the channel inventory turnover was four to four and a half months. In the six months ended June 30, 2024, the retail sales of Xtep's main brand (including online and offline channels) achieved high unit-digit growth year-on-year; the channel inventory turnover was about four months.
Xtep International Sets Board Meeting for Interim Results
xtep int'l (01368.HK) plans to hold a board of directors meeting on August 20 to approve its interim performance.
Xtep Int'l (01368.HK) announced on July 10 that a board of directors meeting will be held on August 20, 2024 (Tuesday) to review and approve the company and its subsidiaries' mid-year performance as of June 30, 2024, and related disclosures, and consider recommending the distribution of interim dividends (if any).
XTEP INT'L: NOTIFICATION OF BOARD MEETING
[Brokerage Focus] CMB International: Maintains neutral view on optional consumer for the next three months.
Jingu Finance | Zhongyin International said that its view on optional consumption for the next three months remains neutral. Overall, the consumption environment in June has started to weaken again compared to April and May, and same-store sales are still declining. Among industries, only the clothing industry met expectations, while the performance of home appliances, sporting goods, travel and dining were all lower than expected. However, based on various forward-looking indicators such as employment, savings willingness and consumption habits, the bank is slightly concerned about the outlook for the third quarter and the second half of the year. Currently, it recommends focusing on the clothing industry and high dividend targets. From a medium and long-term perspective, because valuations are still relatively low, companies with relatively high competitiveness can still be collected. Recommended.
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