RICHEMONT - BUY | CHF164 vs. CHF155 YNAP-FARFETCH: The luxury New Retail is a reality YNAP to become a neutral luxury platform with no controlling shareholder Richemont to leverage FARFETCH technology New TP at CHF164 vs CHF155
RICHEMONT - NEUTRAL | CHF122(-1%) Clear watches category recovery in H1 Gross margin and OPEX control explain record EBIT margin Jewellery obviously but do not forget watches… Further partnership with Farfetch Richemont is also a winner of the industry post covid
RICHEMONT - NEUTRAL | CHF122 VS. CHF113 (-1%) Strong set of H1 results, especially at the EBIT level Slight sales growth acceleration in Q2 on 2Y track H1 EBIT significantly above market expectations 2022-2023 earnings lifted by 6%
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
RICHEMONT - NEUTRAL | CHF64 vs. CHF68 (+25%) Still cautious stance, despite a solid financial situation Covid had a 5% negative impact on FY20 sales FY EBIT down 22%, penalised by online distributors New deterioration for FY21 Still cautious on the stock
RICHEMONT - NEUTRAL | CHF82 (+5%) Q3 sales in line with expectations, jewellery better oriented 4% sales increase in Q3 Jewellery Maisons better oriented in Q3 (+6%) APAC quite strong but, as expected, Japan was down Neutral recommendation and FV unchanged
Richemont (JSE: CFR) continues to focus on transforming the Group to adapt to changes in consumer behaviour, adopting digital and ensuring the long-term sustainability of its brands. The dilutive impact of this strategy was again reflected in H1'20 results. Investments in Cartier, the optimisation of the wholesale channel and digital strategy (YNAP/Watchfinder) negatively affected profitability. We believe the Group requires further investment in digital platforms of its brands, geographical ...
• It has been a reassuring reporting season for the luxury industry, as highlighted by the average 6% FX-n growth achieved by our luxury sample in H1. More importantly, it confirmed the strong outperformance of the best-performing groups such as LVMH, Kering, Moncler and Hermès, which continue to gain market share, partly thanks to margin gains that are reinvested into marketing, digital and customer experience initiatives. Tod’s Group and Swatch Group were the worst performers.
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