Hong Kong apparel retailer Giordano hits 4-year peak on robust H1 estimates

Giordano International

04/07/2023 08:12

** Shares of apparel retailer Giordano International Ltd
 0709.HK  jump as much as 9.1% to HK$2.75, their highest since
July 2019, and on course for a seventh consecutive session of
gain
    ** Stock set for the biggest rise since Jan. 6 if gains hold
    ** The retail chain operator expects to post HK$170-200 mln
($21.71-$25.54 mln) profit for H1 2023, up 75-106% from HK$97
mln net profit in a year ago period, thanks to improved sales,
increased gross margin and controlled operating expenses 
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.6% and the Hang Seng Consumption Index  .HSCGSI  adds 0.7%
    ** The Hang Seng Composite Index  .HSCI  rises 0.4% and the
Hang Seng Index  .HSI  rises 0.3%
    ** As of last close, the stock had surged 45.7% this year


($1 = 7.8312 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))