Consumer Specialist Sales Update

This report provides a specialist sales update on the consumer sector, focusing on EssilorLuxottica's valuation, Ahold Delhaize's forecast cuts, and updates on global luxury and staples brands.

Key Takeaways

• 1.EssilorLuxottica de-rated to 22x forward PE and looks relatively cheap, though bears maintain control until there is more clarity on mid-term financial commitments.
• 2.Ahold Delhaize faces downward pressure on European and US forecasts due to decelerating CPI and SNAP participation declines.
• 3.Chinese jewellery brands (specifically HK/Macau) show strong same-store sales growth despite price gap concerns relative to international peers.

Table of Contents

• EssilorLuxottica – Have we reached a floor?
• Macro, Strategy & Big Picture Themes
• Retail & Digital
• Luxury, Sporting Goods & Brands
• Staples
• GS Upcoming Events

Document Preview

Page 1 of 3

Subscribe for full accessStart Free Trial