Sheng Siong May Be Facing Weaker Groceries Demand in 2022 -- Market Talk
Sheng Siong May Be Facing Weaker Groceries Demand in 2022 -- Market Talk
0825 GMT - Sheng Siong Group could have to contend with weaker groceries demand next year, CGS-CIMB says as it reiterates a hold rating on the stock. With Singapore expected to further ease restrictions as it shifts to Covid-endemic living, the company's same-store sales growth could turn negative in 2022 as demand, which has been elevated in 4Q 2021, will likely taper. The supermarket-chain operator also faces growing competition from online grocery shopping platforms, with online sales making up more and more of the industry's sales mix. The brokerage cuts its 2022-2023 EPS estimates for Sheng Siong by 1.7%-3.8% and lowers the stock's target to S$1.50 from S$1.60. Shares are 0.7% higher at S$1.43. (ronnie.harui@wsj.com)
0825GMT-CGS-CIMB在重申對該股的持有評級時表示，盛雄集團明年可能不得不應對食品雜貨需求疲軟的局面。隨着新加坡轉向Covid地方性生活，預計它將進一步放鬆限制，該公司的同店銷售增長可能在2022年轉為負值，因為2021年第四季度一直處於高位的需求可能會逐漸減少。這家連鎖超市運營商還面臨着來自在線雜貨購物平臺的日益激烈的競爭，在線銷售在該行業的銷售組合中所佔的比例越來越大。該券商將盛雄2022-2023年每股收益預估下調1.7%-3.8%，並將該股目標從1.60新元下調至1.50新元。股價上漲0.7%，至1.43新元。(ronnie.harui@wsj.com)
譯文內容由第三人軟體翻譯。