Macy’s and Kohl’s Results Readthrough Not Positive for Li & Fung
In the second quarter, Macy’s and Kohl’s, two retail giants in the U.S. that can offer some readthrough to Li & Fung’s sourcing business, posted improved but still weak results. Our U.S. consumer team believes that: spending has shifted from apparel to other categories such as healthy food and technology; market share of department stores will continue to lose to online; and these will put pressure on revenue growth and merchandise margins for department stores. We think these trends would h...Li & Fung is an investment holding company. Through its subsidiaries, Co. is a consumer goods design, development, sourcing and logistics company for retailers and brands around the world. Co. is engaged in managing supply chains of high-volume, time-sensitive goods. Co. operates under two business networks, namely the Trading Network and the Logistics Network. The Trading Network focuses on provision of the global sourcing services via multiple channels, such as buying agent, trading-as-principal for private label merchandise and on-shore wholesale business. The Logistics Network focuses on provision of logistics solutions and freight forwarding services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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