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)的托马斯·肖韦(Thomas Chauvey)表示，塞尔瓦托·菲拉格慕(萨尔瓦多Ferragamo)第三季度的业绩不太可能激起市场太多热情，因为退出速度疲软，目前的交易也不稳定。这家意大利皮具制造商公布的第三季度销售额和营业利润高于预期，但程度低于上一季度。肖维指出，与此同时，管理层强调，零售退场率可能在两年内下降，10月份有所改善，但随着亚洲冠状病毒病例的卷土重来，本月再次引发担忧。肖维表示，因此，股价不太可能从业绩中获得太大提振，尽管相对于该行业的持续折扣，以及巴宝莉(Burberry)前老板马尔科·戈贝蒂(Marco Gobbetti)即将上任，都是未来更加乐观的理由。(joshoa.kirby@wsj.com)