TSE:7937Luxury
Tsutsumi JewelryLtd (TSE:7937) Stock Hit By Sharp Earnings Margin Squeeze
The market has been quietly trimming exposure to Tsutsumi JewelryLtd, with the stock down about 13% over the past three months. However, today’s Q1 print hits sentiment where it hurts most. Earnings per share for the quarter came in at ¥11.52, far below the recent quarterly run rate, and net income dropped to ¥180 million on revenue of ¥6,313 million. For a jeweler that had enjoyed a trailing net margin of 10.1%, this sudden profit squeeze is what traders are reacting to, more than any longer...