L'Occitane 0973

Re: L'Occitane 0973

Postby winston » Wed Apr 20, 2016 5:11 am

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L'Occitane sales hit

International cosmetics maker L'Occitane International (0973) said total retail sales in Hong Kong and Macau slid 15.2 percent in the year to the end of March from the previous 12 months.

Same-store sales in the two SARs slumped 17.2 percent, making up 10.8 percent of total net sales.

"The Hong Kong retail market remained sluggish due to the drop in mainland tourist numbers and the relatively strong Hong Kong dollar. The Hong Kong travel retail business also suffered from lower traffic in the Greater China region," the retailer said.

But the firm posted a 8.9-percent gain in overall net sales to 1.28 billion euros (HK$11.29 billion). At constant exchange rates, the sales growth was 5 percent. The rise was driven by sales in China, France, Japan, Brazil, and Russia. The overall same-store sales growth was 1.2 percent.

The China market saw the fastest growth, or 16.8 percent at constant exchange rates. The country contributed to 10.2 percent of total net sales. L'Occitane's own e-commerce channel achieved a 14.5-percent growth.

Source: The Standard
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Re: L'Occitane 0973

Postby winston » Tue Jun 07, 2016 7:50 am

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L'OCCITANE FY Net Profit EUR110M; Final Div EUR0.0291

L'OCCITANE (00973.HK) 0.000 (0.000%) Short selling $127.46K; Ratio 2.472% announced the full year results ended 31 March 2016.

Net profit was EUR110 million, down 9.84% yearly; EPS was EUR0.075; final dividend was EUR0.0291.

The turnover was EUR1.283 billion, up 8.9% yearly; gross profit was EUR1.062 billion, up 10.2% yearly; gross profit margin rose from 81.8% to 82.8% in FY16.

Total number of retail branches rose 127 from 2,797 in FY15 to 2,924 in FY16.

Source: AAStocks Financial News
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Re: L'Occitane 0973

Postby winston » Tue Jun 07, 2016 11:36 am

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<Research Report>JP Morgan: L'OCCITANE Underlying EBIT 5% Higher Than Estimates; Target Lifted to $18.6

L'OCCITANE (00973.HK)'s underlying EBIT was 5% higher than estimates of JP Morgan.

While current trading is mixed, the research house continues to see valuation as appealing since the stock is trading at approximately 7.5x 2017 EV/EBITDA.

It is believed that there is a chance for continuous operating margin expansion over the longer term.

The rating is retained at Overweight and 2017-2019 earnings forecast is revised up by 8%/ 10%/ 11% respectively. Target price is lifted to $18.6 from $18.3.

While the management acknowledged that the company could continue to overinvest in marketing over the medium term, it expects marketing expenses to fall over the longer term.

The operating margins are expected to reach mid-teen in 2020. If this can be achieved, the broker thinks this would imply double digit earnings growth for the upcoming four years.

Source: AAStocks Financial News
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Re: L'Occitane 0973

Postby winston » Wed Jun 08, 2016 8:11 am

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Deutsche Lifts L'OCCITANE Target to $19.64; Core Earnings Beat Mkt Estimates by 15%

Deutsche Bank, in its report, said while FY16 core profit was better than expected by 15% over market forecasts, the broker only raised its profit forecast for FY17/18 by 3%/1% as management revised its sales target by FY20 to EUR1.7 billion from EUR2 billion, with a 16% operating profit margin.

The broker lifted the target price from $19.63 to $19.64, implying 2016/2017 P/E estimates of 24.9x/21.5x.

The broker maintained the rating Buy, as it saw a resumption in core net profit growth with a sales momentum pick-up in Japan and expectation of OPM improvement despite a marketing expenses increase.

For FY17, management guided for a high-single-digit rise in sales in local currency on low-single-digit SSSG and 44-55 new stores (net). OPM will enjoy a 0.1-0.4 ppts improvement.

Source; AAStocks Financial News
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Re: L'Occitane 0973

Postby winston » Thu Jun 16, 2016 8:19 am

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L'OCCITANE Buys Back 1M Shares

L'OCCITANE (00973.HK) 0.000 (0.000%) Short selling $3.14M; Ratio 5.561% announced that today the company has bought back 1 million shares at price range between $15.12-15.78, totalling $15.4154 million.

Source: AAStocks Financial News
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Re: L'Occitane 0973

Postby winston » Wed Jul 20, 2016 10:08 am

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L'OCCITANE 1FQ Sales Down 2.24% YoY

L'OCCITANE (00973.HK) announced that for the first financial quarter ended 30 June 2016, the sales of the group fell 2.24% yearly to EUR268 million, in which direct sales took up 74.7%.

The soft performance was mainly due to global economic downturn together with overall unfavourable foreign exchange impact.

In terms of geographical areas, Brazil, Russia and Japan were among countries with highest sales growth in local currencies.

For the three months ended 30 June 2016, sales in Brazil grew by 17.5% in local currency, contributed by both comparable and non-comparable Stores, with same store sales growth at 13.2%.

Russia had a growth of 14.4% in local currency with same store sales growth at 9.6%.

Japan had a growth of 3.2% in local currency.

China posted flattish same store sales performance in a declining market.

Source: AAStocks Financial News
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Re: L'Occitane 0973

Postby winston » Tue Jun 13, 2017 7:12 am

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L’Occitane sales rise on celebrity endorsements in China

Former EXO member Lu Han leads French brand’s endorsements in country

Net sales jumped 3.2 per cent to €1.32 billion, boosted by a 11.8 per cent growth in e-commerce sales.


L’Occitane opened 51 new outlets during the last fiscal year, including net additions of 31 stores in Brazil, 15 in China and 11 in Japan. It closed two boutiques in Hong Kong.


Source: SCMP

http://www.scmp.com/business/companies/ ... ents-china
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Re: L'Occitane 0973

Postby winston » Wed Oct 25, 2017 3:00 pm

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<Research Report>Nomura Downgrades L'OCCITANE (00973.HK) to Neutral with Target Slashed to $16.5

Nomura, in its report, said although L'OCCITANE (00973.HK)'s new product launches like Harmony Divine become popular, the company is still struggling to boost its sales growth.

The broker trimmed its FY18F revenue growth estimate to 2% from 8%.

The broker said the improvement in L'OCCITANE's sales was slower than its expectations, despite high marketing expenses.

The rating was lowered to Neutral from Buy with target price cut to $16.5 from $18.6.

Source: AAStocks Financial News
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Re: L'Occitane 0973

Postby winston » Wed Oct 25, 2017 3:01 pm

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<Research Report>Citi Downgrades L'OCCITANE (00973.HK) to Sell as 1HFY18 Sales Disappointing

Citigroup, in its report, said the first fiscal half results of L'OCCITANE (00973.HK) was disappointing, as the sales in Japan during the period went weak, coupled with an appreciating EUR as a unfavourable factor.

One-off gain was recorded a year ago, thus the revenue dropped slightly.

The group lowered the full-year operating profit margin guidance to high-single-digit to low-teens from low-teens, which is quite surprising to Citigroup too.

The broker lowered L'OCCITANE's 2018-20 revenue forecast by 3-7%, 2018-20 operating margin by 2 ppts to 10-11%, and cut the target price from $18 to $15.

Citigroup estimated the firm's 2018 earnings to drop 16% yearly before the earnings recover to 8% and 5% growth in 2019 and 2020 respectively.

The broker was downgraded from Buy to Sell.

Source: AAStocks Financial News
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Re: L'Occitane 0973

Postby winston » Mon Nov 27, 2017 8:14 am

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Buybacks

L’Occitane International chairman and CEO Reinold Geiger added to his stake in the natural and organic cosmetics retailer with a combined 2.597 million shares bought from November 21 to 22 at an average of HK$14.70 each.

In addition, the company picked up where it left off in June with 1.299 million shares bought from November 21 to 22 at HK$14.70 each.

The company previously acquired 1.29 million shares from June 13 to 15 at HK$15.85 each and 671,000 shares on January 24 at HK$15.27 each.

Before the buy-backs this year, the company acquired 1.9 million shares in December 2016 at HK$14.66 each, 6.68 million shares from January to July 2016 at an average of HK$14.56 each and 6.65 million shares from November to December 2011 at an average of HK$14.44 each.

Geiger bought 1.299 million shares from November 21 to 22 at an average of HK$14.70 each, which increased his holdings to 1.086 billion shares or 73.59 per cent of the issued capital.

He previously acquired 2.5 million shares from January to February last year at an average of HK$12.90 each and 337,000 shares in November 2015 at HK$15.43 each.

Geiger was appointed to the board in 1996. The stock closed at HK$14.52 on Friday.

Significant Points

The company and the CEO synchronised their buying as they bought the same number of shares at the same prices each trading day from November 21 to 22

The recent purchases by the company and CEO were made on the back of the 20 per cent drop in the share price since September

The recent purchases were made after the company announced on November 20 a 59.44 per cent drop in first-half profit to HK$10.727 million.

The recent purchases by Geiger are his first on-market trades since February 2016

Source: SCMP
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