In today’s briefing:
- Fast Retailing: An Earnings Miss Could Be Around the Corner
- Astra Agro Lestari (AALI IJ) – Lower production in November; Expecting flat figures in December
- Unilever: Short-Term Pain Continues And That Doesn’t Bother Me
Fast Retailing: An Earnings Miss Could Be Around the Corner
- It is going to be challenging for Fast Retailing (9983 JP) to meet the 1QFY22 consensus revenue and OP, when it releases the first quarter results next week.
- Comps were quite strong in the last year, driven by pent-up demand and consensus is expecting 1QFY22 to be marginally higher than the same period of the previous year.
- We think there could be a substantial miss in 1QFY22, driven by lower than expected performance in Uniqlo’s Japan and Chinese businesses.
Astra Agro Lestari (AALI IJ) – Lower production in November; Expecting flat figures in December
Lower production in November; Expecting flat figures in December
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Unilever: Short-Term Pain Continues And That Doesn’t Bother Me
- Last year was a very challenging one for Unilever and the company significantly underperformed other consumer staples.
- Exogenous factors, such as rising commodity inflation, are largely to blame for that performance.
- Underneath the surface, however, Unilever now appears to be in a much better position than a year ago, while valuation remains conservative.
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