DFI Retail's Food, Home Furnishings Weakness May Persist -- Market Talk

Dow Jones03-13

0707 GMT - DFI Retail Group's grocery and home-furnishing segments may take a longer-than-expected path back to revenue growth and margin expansion, UOB Kay Hian analyst Adrian Loh says in a note. Loh says DFI's food business was pressured in 2023 by challenges including the absence of pantry stocking seen in 2022, while its home-furnishings business, comprising IKEA stores in multiple Asian territories, has been weighed by changing consumer behavior after the pandemic. UOB KH lowers its 2024-2025 earnings estimates by 10-11%. The brokerage cuts its target on Singapore-listed DFI Retail to $2.39 from $3.50 while maintaining a buy rating. Shares are last at $2.18. (hoishan.chan@wsj.com)

(END) Dow Jones Newswires

March 13, 2024 03:07 ET (07:07 GMT)

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UOB KH lowers its 2024-2025 earnings estimates by 10-11%. The brokerage cuts its target on Singapore-listed DFI Retail to $2.39 from $3.50 while maintaining a buy rating. Shares are last at $2.18. 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Loh...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0048597586.USD","symbol_name":"富达亚洲焦点A","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2419011520","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2419011520","pubTimestamp":1710313620,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0707 GMT - DFI Retail Group's grocery and home-furnishing segments may take a longer-than-expected path back to revenue growth and margin expansion, UOB Kay Hian analyst Adrian Loh says in a note. 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Loh says DFI's food business was pressured in 2023 by challenges including the absence of pantry stocking seen in 2022, while its home-furnishings business, comprising IKEA stores in multiple Asian territories, has been weighed by changing consumer behavior after the pandemic. UOB KH lowers its 2024-2025 earnings estimates by 10-11%. The brokerage cuts its target on Singapore-listed DFI Retail to $2.39 from $3.50 while maintaining a buy rating. Shares are last at $2.18. 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