Express News | Galaxy Securities: Focus on the deep retracement in the previous period, with valuation repair space and stable dividend rate of high-quality textile and clothing sector symbol.
xtep int'l (1368.HK): In Q3 24, Skechers continues to see high growth, bullish on profit level improvement.
The main brand Q3's revenue growth rate has slowed down, while the discount inventory level remains stable. In 24Q3, the main brand's overall channel revenue increased in unit numbers, with a slower growth rate compared to 24H1 (24H1 growth rate: high unit number growth), determining the main cause to be weak consumer demand. We determine.
xtep int'l (01368.HK) is expected to complete the sale of KP Global around the end of November or early December.
Xtep int'l (01368.HK) announced that it is currently finalizing transition service agreements and other arrangements with Ding Shun Investment. The expected sale is projected to be completed around the end of November 2024, and special dividends will be declared and distributed after the completion of the trade. The company has issued convertible bonds worth 0.5 billion yuan. At the same time, KP Global has also completed the early redemption of GESWEI convertible bonds, totaling a debt of 0.154 billion US dollars to Xtep int'l (equivalent to the cumulative loss since the acquisition in 2019, together with its capital expenditures and operations as of the end of March 2024.
xtep int'l completed the issuance of xtep convertible bonds with a total principal amount of 0.5 billion Hong Kong dollars.
Xtep Int'l (01368) announced that the preconditions of Xtep subscription agreement have been met, therefore, Xtep convertible bonds were issued on November 1, 2024. On the delivery date of Xtep convertible bonds, the principal amount of 0.5 billion Hong Kong dollars was issued to investors, netting approximately 0.499 billion Hong Kong dollars, intending to provide funds for the ultimate redemption price of Guess convertible bonds. In addition, the preconditions of Guess convertible bonds redemption agreement have been met, thus the delivery of Guess convertible bonds redemption was completed on November 1, 2024.
Executive Vice Chairman & VP of Xtep International Holdings Mei Qing Ding Buys More Stock
xtep int'l (1368.HK): Steady growth in revenue, healthy inventory discount.
The company released the 2024Q3 retail data, with m-unit growth year-on-year for the main brand of Xtep, and over 50% year-on-year growth for Saucony, meeting revenue expectations. The main brand shows stable growth, while Saucony's growth is impressive.
Xtep Int'l (01368) completed the issuance of Xtep convertible bonds with a total principal amount of 0.5 billion Hong Kong dollars.
xtep int'l (01368) announced that the preconditions stipulated in the xtep subscription agreement have been met, and therefore have been completed by January 2024...
[Brokerage Focus] Huaxing Securities raises xtep int'l (01368) target price by 24%, expecting high single-digit revenue growth in 4Q24.
King W Financial News | Huaxing Securities issued research reports pointing out that xtep int'l (01368) released 3Q24 company business data. 1) Xtep brand: the number of middle units in sales increased, while store traffic and conversion rates came under pressure, leading to a slowdown in offline sales growth to low unit levels, with better performance of street stores in low-tier markets than shopping center stores in high-tier cities; online growth also slowed to high double digits. Xtep children's performance was slightly better than adult products. 3Q24 retail discounts remained flat month-on-month but slightly improved year-on-year to 75%, inventory turnover ratio remained flat month-on-month but slightly improved year-on-year to 4 times. Although short-term sales growth is under pressure, xtep discounts/inventory are at healthy levels.
xtep int'l (01368) issued 39.1321 million shares of dividend-paying shares on October 30.
xtep int'l (01368) announced that on October 30, 2024, the company issued 3... based on a stock dividend plan.
Lyon Rise raises the target price of Anta Sports (01368.HK) to 5.7 yuan, prioritizing quality.
Lyon released a research report stating that xtep int'l (01368.HK) performed as expected in the third quarter, with retail sales increasing by m units year-on-year, inventory and discounts remaining at a healthy level. The company has shown strong performance in the fourth quarter so far, with online and offline retail sales both recording double-digit year-on-year growth. Excluding the impact of selling KP Global, the bank expects xtep to achieve 7% year-on-year growth in sales and net profit this year, citing management's expectation to distribute a special dividend of 44.7 Hong Kong cents per share by the end of November. Due to the company's commitment to maintaining business quality, controlling inventory, and rigorous store expansion pace, the bank retains its cautious outlook on its growth this year.
Xtep International Holdings: Buy Rating Maintained Amid Strategic Shift and Positive Profit Outlook
HK stocks unusual movement | xtep int'l (01368) surged over 4%, retail sales rebounded to double-digit growth since October.
xtep int'l (01368) rose more than 4%, as of the deadline, rose 4.34%, closing at 5.77 Hong Kong dollars, with a turnover of 20.6443 million Hong Kong dollars.
xtep int'l (1368.HK): Monthly total turnover in October is expected to achieve low double-digit growth compared to last month, aiming to meet the full-year guidance.
Xtep brand October MTD revenue increased by 10% year-on-year, with the possibility of high single-digit growth in 4Q24 revenue; Forecasting a year-on-year increase of 1.5%/21.3% in overall revenue/net income attributable to owners in 2024 to 145.
xtep int'l (01368.HK): Skechers is eye-catching, while the main brand is stable
The operating condition of 24Q3 is good. Xtep main brand: retail sales growth (including online and offline), year-on-year growth rate is in the mid-single digits; discount is about 25% off; channel inventory turnover is about four months. Saucony: retail sales growth (including online and offline channels)
[Brokerage Focus] China Securities Co.,Ltd. maintains a 'buy' rating on Xtep (01368), expecting double-digit growth in terminal revenue in Q4.
Jingu Finance: china securities co.,ltd. released research reports, indicating that in Q3 2024, Anta's (01368) main brand achieved a unit sales increase, showing a slight slowdown compared to the 10%+ growth in Q2 2024. The online growth rate continues to outpace offline, with an estimated double-digit growth online, mainly driven by the gradual enrichment of high cost-effective products online. It is estimated that offline sales will remain steady with a slight increase, mainly due to relatively weak offline consumer demand. The discount rate in Q3 2024 was 25% off, deepening compared to 7-25% off in Q3 2023, and stable compared to Q2 2024. As of the end of Q3, the company's channel inventory turnover days were around 4 months, a significant improvement from 4.5-5 months in Q3 2023.
Citi: Upgraded xtep int'l target price to 5.4 Hong Kong dollars, maintain 'neutral' rating
JPMorgan released research reports stating that Xtep Int'l (01368) target price was raised from HK$4.9 to HK$5.4, maintaining a "Neutral" rating, adjusting profit forecasts for this year to 2026 by 1% to 11%. JPMorgan expects Xtep's sales and net income to grow by 2% and 20% respectively this year, with a net profit margin of 8.4%, i.e., an expansion of 1.2 percentage points year-on-year. Xtep's core retail sales in the third quarter increased by a single-digit percentage year-on-year, meeting expectations but slower than the high double-digit growth in the first and second quarters at 10%. The slowdown is mainly attributed to a decrease in customer traffic and weaker operation indicators compared to the first half of the year. The bank mentioned that the company
JPMorgan: Upgrades Anta's target price to 5.4 Hong Kong dollars in the third quarter, core retail sales meet expectations.
On October 25, Guolonghui | jpmorgan released a report stating that Anta's core retail sales in the third quarter increased by a low single-digit percentage year-on-year, in line with expectations. The company's retail sales from October to present have rebounded to double-digit growth, and the 2024 profit growth and core store guidance are maintained at 20% year-on-year and flat, respectively. jpmorgan expects Anta's sales and net profit to increase by 2% and 20%, with a net income rate of 8.4%, expanding by 1.2 percentage points annually. The bank has raised Anta's target price from 4.9 Hong Kong dollars to 5.4 Hong Kong dollars, maintaining a "neutral" rating.
HSBC: Raises xtep int'l (01368) target price to 5.4 Hong Kong dollars, maintains 'neutral' rating.
Morgan Stanley expects Xtep's sales and net income to increase by 2% and 20% respectively this year, with a net profit margin of 8.4%, a year-on-year expansion of 1.2 percentage points.
Morgan Stanley raised li ning (02331.HK) target price to 13.4 yuan, maintaining a "shareholding" rating.
JPMorgan's report pointed out that Li Ning (02331.HK) recorded a decrease in mid-single-digit retail revenue in the third quarter compared to a low single-digit decline in the second quarter and a low single-digit growth in the first quarter. Although the performance meets expectations, it lags behind Anta (02020.HK) and Xtep (01368.HK) in terms of mid-single-digit growth. However, the bank noted that Li Ning's retail revenue both online and offline has returned to positive growth since October, with steady performance during the National Day holiday, and operational indicators have also improved. They believe that the full-year sales forecast will maintain low single-digit growth, but still face challenges; the full-year net profit margin forecast remains in the low double digits.
Goldman Sachs slightly lowered its target price for Xtep (01368.HK) to 6.6 yuan. The softness in the third quarter brings uncertainty to the revenue target.
Goldman Sachs released a report stating that xtep int'l (01368.HK) third quarter operational data fell below expectations, with retail sales growth in core business slowing to mid-single digits year-on-year, compared to 10% year-on-year growth in the second quarter, similar to Anta (02020.HK), and better than li ning (02331.HK) and Fila with mid-single digits and low single-digit declines. Emerging brands continue to lead annual guidance, with Skechers brand growing by over 50%. The bank believes that xtep's main brand retail sales in the third quarter did not meet management expectations, mainly due to weak consumer purchasing power, which may affect xtep's main brand.
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