1247 GMT - Luxury companies are set to face another year of soft sales and profit growth in 2025, JPMorgan analysts Chiara Battistini and Olivia Townsend write in a note. This is partly due to macroeconomic challenges in China hampering consumer spending, they note. "Following a tough 2024 for the sector, our work suggests that the outlook into 2025 might remain bumpy," the analysts say. Preferred stocks are Pandora and Richemont, thanks to their exposure to jewelry, as well as Prada and EssilorLuxottica. The analysts expect a continuation of the tough environment for names including Kering and Swatch, while Moncler could also face downside risks in the short term. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
December 02, 2024 07:47 ET (12:47 GMT)
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