Ferragamo Shares Flop at Open as Sales Remain Sluggish -- Market Talk
Ferragamo Shares Flop at Open as Sales Remain Sluggish -- Market Talk
0849 GMT - Shares in Salvatore Ferragamo slide in opening trade Wednesday after the Italian luxury-goods company again failed to pick up the pace of recovery in its third-quarter print. Nine-month revenue remains substantially below the same period of 2019, and while margins are impressively robust, the top line remains Ferragamo's weakness, analysts at Jefferies say. Specific areas of concern are a lack of momentum in Asia, an unfavorable channel mix and a failure for the core product categories to lead from the front, the bank says. "We continue to think Ferragamo has a product problem," the bank adds, keeping a hold rating and EUR18 target on the stock. Shares trade 6.7% lower at 18.63.(joshua.kirby@wsj.com; @joshualeokirby)
0849GMT-周三开盘交易中，意大利奢侈品公司菲拉格慕(塞尔瓦托·菲拉格慕)的股价下跌，此前这家意大利奢侈品公司在第三季度财报中再次未能加快复苏步伐。杰富瑞(Jefferies)分析师表示，九个月的营收仍大幅低于2019年同期，尽管利润率令人印象深刻，但营收仍是菲拉格慕的疲软。世行表示，具体令人担忧的领域是亚洲缺乏动力，不利的渠道组合，以及核心产品类别未能从前线引领。该行补充称：“我们仍然认为菲拉格慕存在产品问题。”该行维持对菲拉格慕股票的持有评级和18欧元的目标价。股价下跌6.7%，至18.63。(joshoa.kirby@wsj.com；@joshoaleokirby)