Australia's Endeavour hits over-one-month high on Q1 group sales
BUZZ-Australia's Endeavour hits over-one-month high on Q1 group sales ** Shares of Endeavour Group EDV.AX rise as much as 3.4% to A$3.36, hitting their highest level since August 21, after falling in early trade
** Stock set for strongest intraday trading session since September 23, if current trends hold
** Pub owner posts total group sales of A$3.18 bln ($2.24 bln) in the 14 weeks for Q1 FY27, largely in line with Visible Alpha consensus estimate of A$3.19 bln
** Company reports 3% growth in retail sales in the same period
** Citi says key positive from AGM update is Retail segment now started cycling lower-price investments made a year ago, yet sales continue to grow
** However, Q1 Hotels segment sales growth of 1.9% missed Visible Alpha consensus estimate of 2.1%
** Against a backdrop of weakening sales and margin headwinds (soft gaming revenue & elevated promotion), absence of earnings guidance is probably positive — Jefferies
** Day's gains cut stock's YTD losses to 8.3%
($1 = 1.4221 Australian dollars)
(Reporting by Shivangi Lahiri in Bengaluru)
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