PNJ
15
November
Retail – Note – [NONRATED] – A run-up for the peak sales season
Despite the Yagi Typhoon impacts, we saw a continuing recovery of listed retailers/distributors in 3Q24. In 4Q24F, we believe that consumer spending would be stronger because of (1) the recovery...
07
August
PNJ – Brief – [HOLD] – 2Q24: Sign of recovery
In 2Q24, PNJ reported a revenue of VND9,544bn (+43.2% yoy; 102% of our forecast), while NPAT rose to VND429bn (+28.4% yoy; 103% of our forecast). In 3Q24F, we think that...
28
June
Retail sector – In-depth – [NONRATED] – It’s time for a sprint
In 1Q24, we see that consumers’ confidence reached the highest level of 78% in the last 5 quarters. Together with a more bustling production activity (especially in 2Q24 with IIP...
15
May
Retail – Note – [NONRATED] – Weak demand had different impacts
Consumer demand, in general, is not strong during the Tet holiday, but the impact varies among listed retailers. On the positive side, the consumer confidence index in 1Q24 increased to...
Featured Analysis
Market commentary: Pessimistic sentiment
Market commentary: Demand returns
Derivatives: Continued consolidation
Strategy Monthly: Impact of the January effect?
Market commentary: Low liquidity
Derivatives: Awaiting a breakout signal
Fund flow: Demand returns to Vietnam
