|Bid||3.880 x 0|
|Ask||3.890 x 0|
|Day's range||3.840 - 3.900|
|52-week range||2.750 - 4.470|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.04 (1.02%)|
|1y target est||5.10|
Hong Kong's Li & Fung Ltd , which supplies clothing and other products to retailers worldwide, said on Thursday its 2017 profit from continuing operations rose 6.5 percent amid growth in its supply chain solutions and logistics businesses. Li & Fung, which made its name by making clothing and toys for Western retailers, said profit from continuing operations rose to $170 million, from a restated $160 million in 2016. The company also said it recorded $375 million net loss for 2017, versus a $221 million profit in 2016, due to a one-time non-cash loss for discontinued operations.
March 22 (Reuters) - Li & Fung Ltd: * FY PROFIT ATTRIBUTABLE FROM CONTINUING OPERATIONS $170 MILLION VERSUS $160 MILLION * FY TURNOVER $13,534 MILLION DOWN 4.6 PERCENT * FINAL DIVIDEND 2 HK CENTS ...
In the spring of 2009, Kohl’s Corp. executives gathered six apparel vendors into a hotel near Los Angeles and threw down the gauntlet.
Shares of Li & Fung Ltd were set to open up 6.6 percent on Friday after the global exporter said it would divest its furniture, beauty and sweaters businesses for $1.1 billion. Li & Fung said it would divest the furniture, beauty and sweaters businesses, which are still under margin pressure with declining profitability, to a consortium comprising major shareholder Fung Holdings (1937) Ltd and one of China's top private equity firms, Hony Capital. UBS maintains a "buy" rating on the stock, saying the divestment of a shrinking business will allow Li & Fung to improve its capital structure and to focus on growth segments.
Hong Kong's Li & Fung Ltd said it would divest its furniture, beauty and sweaters businesses for $1.1 billion to a consortium backed by private equity firm Hony Capital, a deal that is expected to trigger net loss in 2017. The exporter, which supplies clothing and other products to retailers worldwide, said in a statement the group is expected to realise a loss of around $610 million attributable to discontinued operations including a write-down of goodwill. Li & Fung said it is at an attractive valuation as the businesses are still under margin pressure with declining profitability due to significant changes in market conditions.