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An update from Giordano International ( (HK:0709) ) is now available.
Giordano International Limited has issued a profit warning, indicating that its profit attributable to shareholders for the year ended December 31, 2024, is expected to be between HK$205 million to HK$225 million, marking a significant drop from the previous year. This decline is attributed to several factors, including non-recurring expenses from a corporate requisition, reduced profits from its South Korean joint venture, and underperformance in Greater China. Despite these challenges, the company has seen revenue growth in the latter half of the year, driven by the roll-out of its five-year strategy ‘Giordano – Beyond Boundaries’, which aims to revitalize its brand portfolio and expand online sales, while also rationalizing store operations in Mainland China.
More about Giordano International
Giordano International Limited is a company incorporated in Bermuda with a focus on apparel retailing. It operates a chain of clothing stores, offering a range of casual wear and accessories. The company is particularly noted for its presence in Asian markets, including Greater China and South Korea.
YTD Price Performance: -5.71%
Average Trading Volume: 3,250
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $321.6M
For an in-depth examination of 0709 stock, go to TipRanks’ Stock Analysis page.
