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Luxury Goods stocks fell overall, with PRADA (01913) down 4.29%. LVMH's first-quarter revenue fell short of expectations, indicating a slowdown in Industry growth.
Jingwo Finance | Luxury Goods stocks have generally declined, with TSE SUI LUEN (00417) dropping 10.00%, PRADA (01913) down 4.29%, ERNEST BOREL (01856) down 4.27%, CITYCHAMP (00256) down 3.33%, CHOW SANG SANG (00116) down 1.30%, and DICKSON CONCEPT (00113) down 1.25%. On the news front, the world's largest Luxury Goods group, France's LVMH, reported first-quarter revenue that fell short of expectations. LVMH stated on Monday that sales for the first quarter, ending March 31 of this year, decreased by 3% to 20.31 billion euros, significantly lower than the market expectation of growth.
Revenues Not Telling The Story For Ernest Borel Holdings Limited (HKG:1856) After Shares Rise 31%
ERNEST BOREL: 2024 ANNUAL RESULTS ANNOUNCEMENT
Ernest Borel Holdings Issues Profit Warning Amid Market Challenges
ERNEST BOREL (01856.HK) expects a loss not to exceed 48 million Hong Kong dollars in 2024.
On March 25, Gelonghui reported that ERNEST BOREL (01856.HK) announced that the company expects to record a loss of no more than HKD 48 million for the 12 months ending December 31, 2024, compared to a profit attributable to owners of HKD 18.9 million for the same period last year. The group's performance loss is mainly attributed to (i) goodwill impairment; (ii) inventory provisions; and (iii) weak consumer market sentiment, resulting in customers placing orders more conservatively than before. The Board of Directors believes that changes in goodwill impairment and inventory provisions are non-cash, non-recurring, and one-time in nature, and cannot represent.
Express News | Ernest Borel - Net Loss Due to Impairment Loss on Goodwill, Others in FY
