PETALING JAYA: Padini Holdings Bhd
is expected to see gradual recovery in the second half of 2020, according to a Kenanga Research report.
The research unit said Padini’s recent fourth quarter results for financial year 2020 (4Q20) had indicated the onset of a gradual recovery in footfalls post-movement control order (MCO), albeit with still tepid demand from tourist-concentrated city stores (such as Suria KLCC and Fahrenheit 88), offset by positive recovery from suburban malls in Shah Alam, Penang and Johor.
Revenue in 1Q21 is expected to be already supported by Hari Raya Aidiladha sales, while 2Q21 is expected to be boosted by the usual festivities sales.
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