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Smartkarma Daily Briefs

Aug 25
0

Daily Brief Thematic (Sector/Industry): GEMWeekly (23 Aug 2024): China Property Price War; Thailand and more

By | Daily Briefs, Thematic (Sector/Industry)

In today’s briefing:

  • GEMWeekly (23 Aug 2024): China Property Price War; Thailand, SK Macro; SEC, Tencent, JD, Reliance
  • Japan Weekly | The Market Waits; 7&I, GMO Payment, Disco

GEMWeekly (23 Aug 2024): China Property Price War; Thailand, SK Macro; SEC, Tencent, JD, Reliance

By Wium Malan, CFA

Japan Weekly | The Market Waits; 7&I, GMO Payment, Disco

By Mark Chadwick

  • This week, markets remained relatively flat, as investors awaited guidance from monetary policymakers, particularly Fed Chair Jerome Powell’s much-anticipated speech on Friday
  • With inflation trending downward—core CPI has fallen for four consecutive months to 3.2%—the Fed seems poised to ease monetary policy
  • Topix rose +0.2%; 13 stocks reached 52-week highs, with only one stock, Colowide, hitting a new yearly low

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Aug 25
0

Daily Brief ECM: Narrative and Numbers | Housing Finance – PSUs | FY24 and more

By | Daily Briefs, ECM

In today’s briefing:

  • Narrative and Numbers | Housing Finance – PSUs | FY24
  • Yamaha Motors Placement – A Relatively Small Cross-Shareholding Unwind

Narrative and Numbers | Housing Finance – PSUs | FY24

By Pranav Bhavsar

Yamaha Motors Placement – A Relatively Small Cross-Shareholding Unwind

By Sumeet Singh

  • A group of shareholders aims to raise around US$330m via selling around 3.6% of Yamaha Motor (7272 JP).
  • This will be another cross-shareholding unwind and hence, won’t be a huge surprise, although the stock hasn’t been doing particularly well lately.
  • In this note, we will talk about the deal dynamics and run the deal through our ECM framework.

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Aug 25
0

Daily Brief Equity Bottom-Up: Lowe’s Companies: A Dive Into Its Brand Strength & Market Position! – Major Drivers and more

By | Daily Briefs, Equity Bottom-Up

In today’s briefing:

  • Lowe’s Companies: A Dive Into Its Brand Strength & Market Position! – Major Drivers
  • Oddity Tech: ~34% Downside Risk As Growth Will Slow Down
  • Clarity Pharmaceuticals Ltd (CU6 AU): An Attractive Bet on Red Hot Radiopharmaceutical Field
  • Cardinal Health Inc.: How Are They Achieving Specialty Business Growth Despite Nonrenewal Challenges! – Major Drivers
  • Coherent Corp.: How Is The Management Executing Portfolio Optimization and Operational Execution Improvements! – Major Drivers
  • Deere & Company: These Are The 4 Biggest Challenges In Its Path! – Major Drivers
  • Estée Lauder Companies: A Tale Strategic Pricing & Precision Marketing! – Major Drivers
  • Fabrinet (FN): A Bear’s Perspective! – Major Drivers
  • JD.com Inc.: Enhancing Platform Ecosystem For Third-Party Sellers As A Key Growth Catalyst! – Major Drivers
  • Lumentum Holdings Inc.: Expansion in High-Speed Optical Transceivers & Other Major Drivers

Lowe’s Companies: A Dive Into Its Brand Strength & Market Position! – Major Drivers

By Baptista Research

  • Lowe’s Companies’ second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and weaknesses of its current business strategy.
  • The company reported Q2 sales of $23.6 billion, with comparable sales down by 5.1%.
  • This decline was attributed to a decrease in demand for Do-It-Yourself (DIY) projects, partially mitigated by solid performance in the Professional (Pro) segment and a growth in online sales.

Oddity Tech: ~34% Downside Risk As Growth Will Slow Down

By Andrei Zakharov

  • Oddity Tech, owner of famous global brands IL MAKIAGE and SpoiledChild, is growing slower than in 2022 and 2023. The overall growth will slow down to ~20% y/y in 2025.
  • According to my estimates and SEC filings, private equity firm L Catterton, the largest shareholder, reduced its stake in Oddity Tech to 18.4%, down from ~42% prior to an IPO.
  • I see ~34% downside risk in Oddity Tech stock as growth will slow down and the company will launch new brands only in the second half of 2025.

Clarity Pharmaceuticals Ltd (CU6 AU): An Attractive Bet on Red Hot Radiopharmaceutical Field

By Tina Banerjee

  • Clarity Pharmaceuticals Ltd (CU6 AU) received FDA fast track designation for its lead candidate 64Cu-SAR-bisPSMA for PET imaging of prostate cancer lesions. Currently, 64Cu-SAR-bisPSMA is in phase 3 trial.
  • If approved, 64Cu-SAR-bisPSMA has the potential the best-in-class diagnostic as the product has improved lesion detection capability compared to existing prostate cancer diagnostics.
  • Clarity’s copper platform, strong prostate pipeline and therapeutic and diagnostic efficacy data represents an attractive opportunity to grow a significant radiopharmaceutical franchise in oncology and other indications.

Cardinal Health Inc.: How Are They Achieving Specialty Business Growth Despite Nonrenewal Challenges! – Major Drivers

By Baptista Research

  • Cardinal Health Incorporated has shown a remarkable year with strong operational performance, achieving a considerable improvement in key financial metrics as highlighted in their Fourth Quarter FY 2024 Earnings.
  • During the fiscal year 2024, Cardinal Health reported striking growth in earnings per share (EPS), marking a 29% increase in both the fourth quarter and for the entire year.
  • The substantial growth in EPS throughout FY 2024 to $7.53 indicates a positive trajectory exceeding the company’s initial guidance significantly.

Coherent Corp.: How Is The Management Executing Portfolio Optimization and Operational Execution Improvements! – Major Drivers

By Baptista Research

  • Coherent Corp. concluded its fiscal year 2024 with financial results reflecting a positive trajectory, showing a 9% sequential and year-over-year revenue growth primarily driven by robust demand in datacom transceivers for AI data-centric deployments.
  • This was further accentuated by Non-GAAP gross margin expansion of 145 basis points compared to the previous quarter, underpinned by resolution of prior transitory issues and a substantial growth in Non-GAAP EPS by 16% sequentially and almost 50% year-over-year.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Deere & Company: These Are The 4 Biggest Challenges In Its Path! – Major Drivers

By Baptista Research

  • Deere & Company reported its third-quarter earnings, revealing a mixed financial performance amid varied market conditions across its segments.
  • Despite a tough macroeconomic environment, the company maintained a disciplined approach, particularly in managing inventory and costs, which was evident from an equipment operations margin of 18.5%.
  • However, the reduced demand in both agricultural and construction sectors, coupled with price competition, led to a decline in net sales and revenues by 20% and 17% respectively, totaling $11.387 billion and $13.152 billion.

Estée Lauder Companies: A Tale Strategic Pricing & Precision Marketing! – Major Drivers

By Baptista Research

  • Estée Lauder Companies’ fiscal 2024 results reflect a challenging environment particularly impacted by market conditions in China and the Asia-Pacific region.
  • The fiscal year witnessed a 2% contraction in organic sales, with a modest gross margin expansion and a decline in adjusted operating margin by 120 basis points to 10.2%.
  • The company’s performance in various regions displayed disparity, with noted declines in Mainland China contrasted by growth in EMEA (Europe, the Middle East, and Africa) primarily due to a recovery in Asia travel retail.

Fabrinet (FN): A Bear’s Perspective! – Major Drivers

By Baptista Research

  • Fabrinet concluded the fiscal year 2024 on a strong note with record revenue and earnings per share, reflecting robust execution across its business segments.
  • For the fourth quarter, the company posted revenue of $753 million, exceeding its guidance and marking a 15% year-over-year increase and a 3% increase sequentially.
  • Non GAAP earnings per share for the quarter came in at $2.41, also surpassing the projected range.

JD.com Inc.: Enhancing Platform Ecosystem For Third-Party Sellers As A Key Growth Catalyst! – Major Drivers

By Baptista Research

  • JD.com reported its second quarter and interim 2024 earnings, presenting a mixed performance amid challenging market conditions.
  • The company achieved record non-GAAP net profit for a single quarter, indicating strong profitability and effective cost management.
  • However, revenue growth was modest, reflecting the competitive and dynamic nature of the market JD.com operates in.

Lumentum Holdings Inc.: Expansion in High-Speed Optical Transceivers & Other Major Drivers

By Baptista Research

  • Lumentum Holdings, a provider of optical and photonic solutions, reported mixed performance in its fourth quarter fiscal year 2024 results.
  • The company experienced a decrease in both the Cloud & Networking and Industrial Tech segments but made significant progress in expanding its customer base and advancing its technology for future growth, particularly in high-speed optical transceivers and datacom components.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

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Aug 25
0

Daily Brief Event-Driven: (Mostly) Asia-Pac M&A: APM Human Services and more

By | Daily Briefs, Event-Driven

In today’s briefing:

  • (Mostly) Asia-Pac M&A: APM Human Services, TCM, Alps Logistics, Fancl, Jeisys Medical, PropertyGuru
  • ESR Group (1821 HK): A Rumoured Offer Price Surfaces
  • Henlius (2696 HK): Share Alternative Facilitates the Vote
  • Japan Tobacco/Vector Group: Possible Bump-Up?
  • NIFTY Bank Index Rebalance: Canara Bank IN; Bandhan Bank OUT
  • China Healthcare Weekly (Aug.25)- China TCM 24H1 Profit Warning, Financing Activities, Giant Biogene
  • Weekly Deals Digest (25 Aug) – Seven & I, Iriso, Fancl, Alps Logistics, China TCM, Henlius, GA Pack
  • Trading Situation for Hyundai Motor’s 5% Stake in Korea Zinc, Set to Be Unlocked in October
  • NIFTY50 Index Rebalance: Trent, BEL to Replace Divi’s Lab, LTIMindtree
  • Last Week in Event SPACE: Seven & I Holdings, Webjet, Hanwha Group, Swire Pac/Props, EOFlow

(Mostly) Asia-Pac M&A: APM Human Services, TCM, Alps Logistics, Fancl, Jeisys Medical, PropertyGuru

By David Blennerhassett

ESR Group (1821 HK): A Rumoured Offer Price Surfaces

By Arun George

  • A media outlet that Reports on Deals reported that the consortium will offer HK$14.50 per share, a 22.1% and 61.8% premium to the last close (HK$11.88) and undisturbed price (HK$8.96).
  • While not a knockout offer, the consortium’s impending binding proposal suggests confidence that the offer price and structure would gain the support of the substantial shareholders. 
  • The downside to a deal break is low as ESR’s valuation is undemanding. Its forward EV/EBITDA multiple is at a 30% discount to the median peers’ multiple.

Henlius (2696 HK): Share Alternative Facilitates the Vote

By Arun George

  • Shanghai Fosun Pharmaceutical (Group) (2196 HK) announced the Shanghai Henlius Biotech (2696 HK) share alternative offer, subject to proration due to a cap of 8% of outstanding shares. 
  • The share alternative offer was necessary to facilitate the vote as the HK$24.60 offer is half the HK$49.60 IPO price. 
  • The co-founders, HenLink and LVC, will likely tender some or all their shares for scrip. At the last close and for the December-end payment, the gross/annualised spread is 7.4%/17.9%.

Japan Tobacco/Vector Group: Possible Bump-Up?

By Jesus Rodriguez Aguilar

  • JT plans to acquire 100% of Vector Group at $15.00/share, a 29.9% premium. The offer requires over 50% acceptance, with Board support and completion expected by late 2024, pending approvals.
  • The shares go ex-dividend on August 30, with payment on September 12. Adjusted for the dividend, shares trade at a -0.4% gross spread. My fair value estimated is $15.92/share.
  • Consensus sets a target price of $16/share. JT may consider raising its offer to this level (6.67%), especially if they see Vector as a strong long-term investment.

NIFTY Bank Index Rebalance: Canara Bank IN; Bandhan Bank OUT

By Brian Freitas

China Healthcare Weekly (Aug.25)- China TCM 24H1 Profit Warning, Financing Activities, Giant Biogene

By Xinyao (Criss) Wang

  • China Traditional Chinese Medicine (570 HK)‘s profit warning suggests weaker-than-expected 2024H1 results, but the interim report is needed for clarity. This is unlikely to negatively affect the company’s privatization plans.
  • In 24H1, healthcare investment and financing activities have slowed, and it will take time for investors’ confidence in the sector to recover.
  • Giant Biogene (2367 HK)‘s 24H1 results exceeded expectations, leading management to raise its 2024 guidance. However, the profit margin declined, and we remain cautious about long-term growth prospects.

Weekly Deals Digest (25 Aug) – Seven & I, Iriso, Fancl, Alps Logistics, China TCM, Henlius, GA Pack

By Arun George

Trading Situation for Hyundai Motor’s 5% Stake in Korea Zinc, Set to Be Unlocked in October

By Sanghyun Park

  • The market is watching closely for when Hyundai Motor might sell its 5% stake in Korea Zinc, with the lockup ending on October 7th.
  • Hyundai might mediate to end the lawsuit and lift the injunction, potentially agreeing to sell the stake to a third party or on the market.
  • The uncertainty around Hyundai’s Korea Zinc stake sale makes trading challenging, but its actions in Q4 could significantly affect Korea Zinc’s stock price and create trading opportunities.

NIFTY50 Index Rebalance: Trent, BEL to Replace Divi’s Lab, LTIMindtree

By Brian Freitas

Last Week in Event SPACE: Seven & I Holdings, Webjet, Hanwha Group, Swire Pac/Props, EOFlow

By David Blennerhassett

  • Alimentation Couche-Tard has returned to the well with a NBIO for 7&I (3382 JP). This’ll be anathema to politicians who view 7&i as a local champion AND a lifeline entity.
  • Global travel outfit Webjet Ltd (WEB AU) has announced the separation of its two key divisions. The sum of the part is greater than the whole? I’ll take that bet.
  • The Kim family turn their focus to Hanwha Galleria (452260 KS) in the latest Partial Offer within the Hanwha Group complex. 

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Aug 25
0

Daily Brief Macro: Aussie and Kiwi: A Tale of Two Countries and more

By | Daily Briefs, Macro

In today’s briefing:

  • Aussie and Kiwi: A Tale of Two Countries
  • Overview #8 Plus Ca Change…
  • Fed Jackson Hole Guidance

Aussie and Kiwi: A Tale of Two Countries

By Alex Ng

  • We will look into the “well-known “correlation among the Aussie and well-known benchmarks to give  a closer look towards factors that have been affecting the movement of the Australian Dollar.
  • We will look into the performance of the Aussie relative to the Kiwi. The Aussie and Kiwi are viewed to be closely correlated given their geographic proximity and trade partnerships.
  • They are also being categorized as commodity currencies, with their dependence in commodity export.

Overview #8 Plus Ca Change…

By Rikki Malik

  • A review of recent events/data impacting our investment themes or outlook
  • The Nasdaq, China and the JPY walk into a bar.
  • The world’s biggest uranium miner cuts its 2025 production guidance

Fed Jackson Hole Guidance

By Alex Ng

  • Fed Powell clearly signaled a Sep 18 FOMC rate cut, but his analysis on the economy is softer than harder landing.
  • Though the option of 50bps was not ruled out, the comments from Powell and other Fed officials are more consistent with 25bps than 50bps. 
  • Nevertheless, the Fed is now more focused on the labor market, which suggests we think will be improving even with mere 25bps cut this year.

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Aug 25
0

Daily Brief Thailand: Fabrinet and more

By | Daily Briefs, Thailand

In today’s briefing:

  • Fabrinet (FN): A Bear’s Perspective! – Major Drivers

Fabrinet (FN): A Bear’s Perspective! – Major Drivers

By Baptista Research

  • Fabrinet concluded the fiscal year 2024 on a strong note with record revenue and earnings per share, reflecting robust execution across its business segments.
  • For the fourth quarter, the company posted revenue of $753 million, exceeding its guidance and marking a 15% year-over-year increase and a 3% increase sequentially.
  • Non GAAP earnings per share for the quarter came in at $2.41, also surpassing the projected range.

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Aug 25
0

Daily Brief Australia: Clarity Pharmaceuticals Ltd and more

By | Australia, Daily Briefs

In today’s briefing:

  • Clarity Pharmaceuticals Ltd (CU6 AU): An Attractive Bet on Red Hot Radiopharmaceutical Field

Clarity Pharmaceuticals Ltd (CU6 AU): An Attractive Bet on Red Hot Radiopharmaceutical Field

By Tina Banerjee

  • Clarity Pharmaceuticals Ltd (CU6 AU) received FDA fast track designation for its lead candidate 64Cu-SAR-bisPSMA for PET imaging of prostate cancer lesions. Currently, 64Cu-SAR-bisPSMA is in phase 3 trial.
  • If approved, 64Cu-SAR-bisPSMA has the potential the best-in-class diagnostic as the product has improved lesion detection capability compared to existing prostate cancer diagnostics.
  • Clarity’s copper platform, strong prostate pipeline and therapeutic and diagnostic efficacy data represents an attractive opportunity to grow a significant radiopharmaceutical franchise in oncology and other indications.

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Aug 25
0

Daily Brief South Korea: Korea Zinc and more

By | Daily Briefs, South Korea

In today’s briefing:

  • Trading Situation for Hyundai Motor’s 5% Stake in Korea Zinc, Set to Be Unlocked in October

Trading Situation for Hyundai Motor’s 5% Stake in Korea Zinc, Set to Be Unlocked in October

By Sanghyun Park

  • The market is watching closely for when Hyundai Motor might sell its 5% stake in Korea Zinc, with the lockup ending on October 7th.
  • Hyundai might mediate to end the lawsuit and lift the injunction, potentially agreeing to sell the stake to a third party or on the market.
  • The uncertainty around Hyundai’s Korea Zinc stake sale makes trading challenging, but its actions in Q4 could significantly affect Korea Zinc’s stock price and create trading opportunities.

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Aug 25
0

Daily Brief United States: Vector, Lowe’s Companies Inc, Oddity Tech , Deere & Co, Estee Lauder Companies Cl A, Lumentum Holdings, Madison Square Garden Sports Corp., Medtronic Plc, Paycor HCM, Tapestry Inc and more

By | Daily Briefs, United States

In today’s briefing:

  • Japan Tobacco/Vector Group: Possible Bump-Up?
  • Lowe’s Companies: A Dive Into Its Brand Strength & Market Position! – Major Drivers
  • Oddity Tech: ~34% Downside Risk As Growth Will Slow Down
  • Deere & Company: These Are The 4 Biggest Challenges In Its Path! – Major Drivers
  • Estée Lauder Companies: A Tale Strategic Pricing & Precision Marketing! – Major Drivers
  • Lumentum Holdings Inc.: Expansion in High-Speed Optical Transceivers & Other Major Drivers
  • Madison Square Garden Sports Corp.: Enhancements in Fan Experience and Venue Utilization As A Critical Growth Lever! – Major Drivers
  • Medtronic plc: Are Its Investments in Robotics with Hugo Robotic-Assisted Surgery System Yielding Results? – Major Drivers
  • Paycor HCM Inc.: Their Expanded Enterprise and Embedded Partnerships Is Driving Our Optimism! – Major Drivers
  • Tapestry Inc.: A Story Of Enhanced Brand Building & Consumer Engagement! – Major Drivers

Japan Tobacco/Vector Group: Possible Bump-Up?

By Jesus Rodriguez Aguilar

  • JT plans to acquire 100% of Vector Group at $15.00/share, a 29.9% premium. The offer requires over 50% acceptance, with Board support and completion expected by late 2024, pending approvals.
  • The shares go ex-dividend on August 30, with payment on September 12. Adjusted for the dividend, shares trade at a -0.4% gross spread. My fair value estimated is $15.92/share.
  • Consensus sets a target price of $16/share. JT may consider raising its offer to this level (6.67%), especially if they see Vector as a strong long-term investment.

Lowe’s Companies: A Dive Into Its Brand Strength & Market Position! – Major Drivers

By Baptista Research

  • Lowe’s Companies’ second quarter 2024 earnings outlined a mixed performance amid challenging market conditions, reflecting both the strengths and weaknesses of its current business strategy.
  • The company reported Q2 sales of $23.6 billion, with comparable sales down by 5.1%.
  • This decline was attributed to a decrease in demand for Do-It-Yourself (DIY) projects, partially mitigated by solid performance in the Professional (Pro) segment and a growth in online sales.

Oddity Tech: ~34% Downside Risk As Growth Will Slow Down

By Andrei Zakharov

  • Oddity Tech, owner of famous global brands IL MAKIAGE and SpoiledChild, is growing slower than in 2022 and 2023. The overall growth will slow down to ~20% y/y in 2025.
  • According to my estimates and SEC filings, private equity firm L Catterton, the largest shareholder, reduced its stake in Oddity Tech to 18.4%, down from ~42% prior to an IPO.
  • I see ~34% downside risk in Oddity Tech stock as growth will slow down and the company will launch new brands only in the second half of 2025.

Deere & Company: These Are The 4 Biggest Challenges In Its Path! – Major Drivers

By Baptista Research

  • Deere & Company reported its third-quarter earnings, revealing a mixed financial performance amid varied market conditions across its segments.
  • Despite a tough macroeconomic environment, the company maintained a disciplined approach, particularly in managing inventory and costs, which was evident from an equipment operations margin of 18.5%.
  • However, the reduced demand in both agricultural and construction sectors, coupled with price competition, led to a decline in net sales and revenues by 20% and 17% respectively, totaling $11.387 billion and $13.152 billion.

Estée Lauder Companies: A Tale Strategic Pricing & Precision Marketing! – Major Drivers

By Baptista Research

  • Estée Lauder Companies’ fiscal 2024 results reflect a challenging environment particularly impacted by market conditions in China and the Asia-Pacific region.
  • The fiscal year witnessed a 2% contraction in organic sales, with a modest gross margin expansion and a decline in adjusted operating margin by 120 basis points to 10.2%.
  • The company’s performance in various regions displayed disparity, with noted declines in Mainland China contrasted by growth in EMEA (Europe, the Middle East, and Africa) primarily due to a recovery in Asia travel retail.

Lumentum Holdings Inc.: Expansion in High-Speed Optical Transceivers & Other Major Drivers

By Baptista Research

  • Lumentum Holdings, a provider of optical and photonic solutions, reported mixed performance in its fourth quarter fiscal year 2024 results.
  • The company experienced a decrease in both the Cloud & Networking and Industrial Tech segments but made significant progress in expanding its customer base and advancing its technology for future growth, particularly in high-speed optical transceivers and datacom components.
  • Baptista Research looks to evaluate the different factors that could influence the company’s price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Madison Square Garden Sports Corp.: Enhancements in Fan Experience and Venue Utilization As A Critical Growth Lever! – Major Drivers

By Baptista Research

  • Madison Square Garden Sports Corp. (MSG Sports) has presented a robust financial performance in its fiscal 2024 fourth quarter and year-end earnings, reflecting effective management and promising developments within its operations.
  • The company, as part of its year-end declarations, showcased record-setting revenues exceeding $1 billion and an adjusted operating income of $172 million.
  • These figures surpassed the previous fiscal year’s outcomes, underscoring the company’s financial growth trajectory.

Medtronic plc: Are Its Investments in Robotics with Hugo Robotic-Assisted Surgery System Yielding Results? – Major Drivers

By Baptista Research

  • Medtronic PLC reported its fiscal 2025 first-quarter results, reflecting a sustained performance trajectory with key financial metrics meeting or exceeding expectations.
  • Highlights from the earnings call emphasize continued growth across several of Medtronic’s business segments, along with strategic advancements in product innovations and global market expansions.
  • Revenue growth was reported at 5.3%, surpassing the midpoint of guidance, with significant contributions from the Cardiovascular, Neuroscience, and Diabetes segments.

Paycor HCM Inc.: Their Expanded Enterprise and Embedded Partnerships Is Driving Our Optimism! – Major Drivers

By Baptista Research

  • Paycor’s fourth quarter and full year 2024 earnings call, which ended on June 30, 2024, reflects a company strategically navigating its growth amidst an evolving market landscape.
  • With an 18% revenue growth for the quarter and a 19% increase for the fiscal year, Paycor appears to have successfully executed its strategic initiatives.
  • The company managed to increase the average number of employees on its platform by 9% and expanded the amount earned per employee per month by 6%, signaling efficient scaling and value addition.

Tapestry Inc.: A Story Of Enhanced Brand Building & Consumer Engagement! – Major Drivers

By Baptista Research

  • Tapestry, Inc. reported its fourth quarter earnings where it demonstrated notable strengths internationally with a 6% growth led by significant contributions from various regions including Europe, Other Asia, and Japan.
  • However, modest revenue declines in North America, coupled with more challenging conditions in Greater China, posed challenges in otherwise robust financial outcomes.
  • Revenue in Greater China grew by 3% overall for the year but showcased declines in the latter half.

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Aug 25
0

Daily Brief India: Canara Bank, Can Fin Homes, Trent Ltd and more

By | Daily Briefs, India

In today’s briefing:

  • NIFTY Bank Index Rebalance: Canara Bank IN; Bandhan Bank OUT
  • Narrative and Numbers | Housing Finance – PSUs | FY24
  • NIFTY50 Index Rebalance: Trent, BEL to Replace Divi’s Lab, LTIMindtree

NIFTY Bank Index Rebalance: Canara Bank IN; Bandhan Bank OUT

By Brian Freitas

Narrative and Numbers | Housing Finance – PSUs | FY24

By Pranav Bhavsar

NIFTY50 Index Rebalance: Trent, BEL to Replace Divi’s Lab, LTIMindtree

By Brian Freitas

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