|Bid||59.85 x 1000|
|Ask||59.95 x 2900|
|Day's Range||59.00 - 60.95|
|52 Week Range||39.15 - 60.95|
|Beta (3Y Monthly)||0.07|
|PE Ratio (TTM)||41.77|
|Earnings Date||Feb 7, 2018 - Feb 12, 2018|
|Forward Dividend & Yield||0.35 (0.58%)|
|1y Target Est||N/A|
Chinese footwear retailer Belle International has hired Bank of America Merill Lynch (BAML) to help prepare for a Hong Kong listing of its sportswear business this year, said people with direct knowledge of the matter. The firm aims for a valuation of at least HK$20 billion ($2.55 billion) to HK$25 billion for the unit, which distributes brands such as Nike and Adidas, said two of the people. The divestiture comes nearly two years after BAML advised a consortium led by Hillhouse Capital Group and CDH Investments to take Belle private in a $6.8 billion deal completed in July 2017, as traditional retailers battled online competition.
Sportswear group Puma gave a conservative forecast for 2019 on Thursday despite strong fourth-quarter sales helped by demand for its chunky RS-X shoes and Cali sneakers, sending its shares down more than 6 percent. Chief Executive Bjorn Gulden conceded that the new target was cautious, but also said: "When there is upside, we'll take it. Puma has been growing faster than its bigger German rival Adidas and market leader Nike, helped by savvy social media campaigns and partnerships with celebrities like singers Selena Gomez and Rihanna and rap mogul Jay-Z.
Puma SE is struggling to keep up with consumers turning away from the minimalist retro sneakers in favor of chunkier styles influenced by the fashion runway. While shoppers had been snapping up revived versions of classics like the German company’s Clyde and rival Adidas AG’s Stan Smith, driving the sports-shoe industry’s growth, they’ve begun to favor bulkier footwear inspired by luxury brands’ designs like the Balenciaga’s $900 Triple S. “The first six months of the year showed major shifts in product trends and consumer demand, especially for footwear,” Puma Chief Executive Officer Bjoern Gulden said.