HK's apparel retailer Giordano hits 14-month high on robust earnings forecast

Giordano International

07/05/2021 02:51

** Shares of apparel retail chain operator Giordano
International Ltd  0709.HK  rise as much as 8.7% to HK$1.75,
their highest since March 2020, on course for a second session
of gains
    ** Stock on track for best day since Feb 16; among the 30
biggest percentage gainers on the Hong Kong bourse  
    ** The retailer expects to record profit for six months
through June, as compared with HK$175 mln ($22.5 mln) loss the
same period a year ago, with sales up 2.4% during the period, in
which sales soared 69% in the month of March  urn:newsml:reuters.com:*:nFWN2MT028
    ** Says the rebound, helped by relaxation of social
distancing rules in China and Taiwan, upward trend in sales
performance in South-East Asia, increased online sales and
rental concessions received from landlords 
    ** The Hong Kong Hang Seng consumer goods and services index
 .HSCGSI  gains 0.3% and the benchmark index  .HSI  climbs 0.2%
    ** As of last close, stock up 41.2% this year

    ($1 = 7.7686 Hong Kong dollars)

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)