Sa Sa International 0178

Re: Sa Sa International 0178

Postby winston » Tue Jul 17, 2018 5:40 am

not vested

Mainlanders drive Sa Sa sales to $2.1b

by Annie Qiu

Sa Sa International Holdings (0178), the cosmetics and skincare retailer, said yesterday retail and wholesale turnover for the first quarter ended June 30 increased by 24.8 percent over the same period the year to HK$2.11 billion.

The retail and wholesale turnover in Hong Kong and Macau markets increased by 27.7 percent to HK$1.8 billion, while same-store sales increased by 25.3 percent.

This was mainly driven by a 27.5 percent increase in the number of transactions from mainland tourists, which also led to a 14.5 percent growth in the volume of transactions.

The average sales per transaction of local consumers and mainland tourists increased by 8.1 percent and 7 percent respectively, Sa Sa reported.

Source: The Standard
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winston
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Re: Sa Sa International 0178

Postby winston » Thu Aug 16, 2018 11:06 am

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SA SA INT`L(178)

Analysis:

Sales growth in the first quarter of FY 2019 (Q1, 1st March to 31st June ) accelerated to 26.1%, with sales revenue and same-store growth in Hong Kong and Macau growing by 30% and 27% respectively.

The management team is optimistic about benefits that HK can gain through the policy Guangdong-HK-Macao Greater Bay.

With the opening of the HK-Zhuhai-Macao Bridge and Express Rail Link in 2H of the year, more Chinese tourists are expected to come to HK boosting retail market.

In our view, the acceleration in sales growth of Sasa in Q1 was partly due to the low base in the same period of last year.

The whole year`s growth is expected to be lower than Q1, but double digit growth can still be achieved.

Despite the growth in top line for Q1, gross profit margin (GMP) has still been under downward pressure due to the proportion of low-m argin trendy products in the product mix has increased.

We expected that the whole-year GPM will still be under pressure. However, sales growth is expected to bring operating leverage. With the rental and wage costs remain stable, operating profit is expected to increase.

Strategy:
Buy-in Price: $3.89, Target Price: $6.00, Cut Loss Price: $3.50

Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Sa Sa International 0178

Postby winston » Tue Sep 10, 2019 3:46 pm

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Sep 6, 2019

<Research Report>Citi Axes SA SA INT'L (00178.HK) TP to $1.51, Rated Sell

Citigroup expected SA SA INT'L (00178.HK) to record over 30%/ about 20% slide in Hong Kong & Macau SSS in August/ July, given ongoing protests in Hong Kong.

The company's GPM will also be subdued under destocking pressure.

Sa Sa's FY20-22 net profit forecasts were trimmed by 53%, 31% and 26%.

With uncertain DPS outlook, Sa Sa was kept at Sell, with target down from $1.72 to $1.51.

Source: AAStocks Financial News
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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