HK-listed intimate wear group Cosmo Lady surges on sales optimism

Cosmo Lady (China) Holdings Co

23/10/2020 03:57

** Shares of intimate wear designer and developer Cosmo Lady
(China) Holdings Co Ltd  2298.HK  rise as much as 15.4% to
HK$1.20, after four straight sessions of losses 
    ** Stock heads for its best session since Oct. 16; sixth
biggest percentage gainer among all listed companies on the Hong
Kong bourse 
    ** Guangdong-based co says value of orders placed by
franchisees during its spring-summer trade fair for delivery in
2021 has increased by more than 30% from a year-ago period
    ** Says franchisees plan to open about 300 new stores within
next six months  urn:newsml:reuters.com:*:nFWN2HD1CA
    ** Says offline store sales recover from the impact of
COVID-19 pandemic and slowing mainland China economy
    ** Says same-store sales growth turned positive from
mid-September and in high single-digit for the first half of
October, adding improvement trend will continue in the fourth
quarter
    ** Both the Hang Seng China enterprises index  .HSCE  and
the benchmark index  .HSI  gain 0.2%
    ** As of last close, stock had slid 5.5% this year

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)