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<Research>DBS Slashes XIABUXIABU (00520.HK) TP to $1.8, Rating Hold
XIABUXIABU (00520.HK) has 1,098 stores as at the end of 2023, and plans to accelerate its store expansion space in the future to achieve regional growth, including expansion into o...
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<Research>DBS Slashes XIABUXIABU (00520.HK) TP to $1.8, Rating Hold
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XIABUXIABU (00520.HK)  +0.040 (+6.349%)   has 1,098 stores as at the end of 2023, and plans to accelerate its store expansion space in the future to achieve regional growth, including expansion into overseas markets such as Hong Kong, Taipei, Singapore and Malaysia, DBS Group Research issued a research report saying.

DBS Group Research also expected XIABUXIABU and its premium brand Coucou to record a sales CAGR of 6% and 9% each for 2024.

XIABUXIABU slowed down the store expansion pace amid weak consumption demand, DBS Group Research added. Moreover, the Company remains focused on effective cost control measures, including reducing its store size to cut rental costs and investment expenses.

In addition, the Company aims to increase cross-selling across its brand portfolio through the establishment of a membership scheme. DBS Group Research lowered its 2024 earnings forecast for XIABUXIABU by 26%, and slashed its target price from $4.2 to $1.8 accordingly, with rating kept at Hold.
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