Analyst Pin-board : PNJ – Update on Q1/2020 result and 2020-2021 forecast
In Q1/2020, PNJ recorded a 5% in YoY sales growth and -4% in PAT growth. Retail and wholesale saw slowdown in the context of Covid-19. In March, retail sales went down 10% YoY due to social distancing and store temporary shutdowns. Gold bar sales surged 75% YoY in the month. However, gold bar has very little profit margin compared to other segments; therefore, PAT still went down 34% YoY in the month.
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