European Luxury-Goods Retailers to Report Big 1Q Virus Hit -- Market Talk
April 15 2020 - 12:37PM
Dow Jones News
16:07 GMT - European luxury-goods retailers are likely to report
a drop in 1Q sales of as much as 20% as a result of disruption from
the coronavirus pandemic, says JPMorgan. Those least affected by
the crisis are likely to include Brunello Cucinelli, Hermes
International and Kering, while Burberry Group, Ferragamo Group,
Tod's and Moncler are thought to have suffered the most, JPMorgan
says. Lockdown-related store closures across Asia-Pacific in
February, and across Europe and the Americas from early March to
the end of the month, likely hit the whole sector hard, the bank's
analysts say. (philip.waller@wsj.com)
(END) Dow Jones Newswires
April 15, 2020 12:22 ET (16:22 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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