Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Equity Bottom-Up

<ul><li class="p1">Belle International is China’s leading brick-and-mortar footwear and sportswear retailer, with 20,557 stores as of February 2015.</li><li class="p1">Belle expects net profit in fiscal 2016 to decrease by approximately 35%-45% year over year, significantly lower than both our expectations and the consensus.</li><li class="p1">We believe management needs to come up with a sound strategy to combat foreign and online competition and the weakening position of department stores as distribution channels.</li></ul><p class="p1"><em>Analyst: Chelsey Tam</em></p>

Belle International is China’s leading brick-and-mortar footwear and sportswear retailer, with 20,557 stores as of February 2015.Belle expects net profit in fiscal 2016 to decrease by approximately 35%-45% year over year, significantly lower than both our expectations and the consensus.We believe management needs to come up with a sound strategy to combat foreign and online competition and the weakening position of department stores as distribution channels.Analyst: Chelsey Tam

Belle's FVE Under Review After Profit Warning

Taiwan

Pou Chen Corporation manufactures and markets footwear products such as athletic shoes, leather shoes, plastics shoes and shoe soles. The Company markets its products in Taiwan and exports to the United States, South East Asia and Europe. Pou Chen's major business is shoe material trading.

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Pou Chen (9904 TT)

Belle's FVE Under Review After Profit Warning

Belle International is China’s leading brick-and-mortar footwear and sportswear retailer, with 20,557 stores as of February 2015. Belle expects...

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