大摩：重申周大福“增持”评级上财季同店销售符合预期

新浪财经2025-04-25

摩根士丹利发表研究报告指，周大福上财季的同店销售跌幅收窄，符合预期。集团的营运质素改善、产品组合更佳、店铺生产力提升、及利润率扩大，抵销了关店率上升的拖累。该行重申集团“增持”评级，目标价10.5港元。大摩提到，周大福料2025财年的收入将符合其指引，而毛利率及经营溢利率则将超出指引。该行相信，集团持续专注于营运品质的策略，而2026财年的净关店量或将减少。该行预期集团2025至2027财年的...

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大摩：重申周大福“增持”评级 上财季同店销售符合预期

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大摩：重申周大福“增持”评级上财季同店销售符合预期