HK's Giordano hits 3-1/2-year low on weak H1 forecast

Giordano International

16/07/2019 02:56

** Shares of Giordano International Ltd  0709.HK  fall as
much as 7.9% pct to HK$3.13, their lowest since March 2016
    ** Stock down after the Hong Kong-based apparel distributor
forecast a sharp drop in its first-half profit
    ** Stock ranks the seventh biggest percentage decliner in
early trade 
    ** Co expects its profit for six months ended June to fall
38% from a year ago amid weak retail environment and poor market
sentiment stemming from Sino-U.S. trade war  urn:newsml:reuters.com:*:nFWN24G0AF
    ** The interim results will publish in August
    ** As of Monday's close, stock down 8.1% so far this year
    ** Giordano has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 5.2 percentage points in the
past one month
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
climbs 0.4%, and the Hang Seng sub-index tracking consumer goods
companies  .HSCICG  gains 0.3%
    ** The Hong Kong benchmark index  .HSI  edges up 0.1%

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