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    1476   TW0001476000

ECLAT TEXTILE CO., LTD.

(1476)
  Report
End-of-day quote Taiwan Stock Exchange  -  2022-09-28
418.00 TWD   +2.45%
08/04Eclat Textile Co., Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
CI
08/04Eclat Textile : The board of directors of the Company approves removal of the non-compete clause for managerial personnel
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08/04Eclat Textile : To announce the new appointment of Vice Chairman
PU
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Nike supplier halts production at 3 Vietnam plants due to COVID-19

07/15/2021 | 05:52am EDT

HANOI, July 15 (Reuters) - Changshin Vietnam, a South Korean shoemaker, became the second major Nike supplier to suspend production in Vietnam as it shut three of its factories near Ho Chi Minh City on Thursday due to a coronavirus outbreak.

The factories in Dong Nai province, which employ nearly 42,000 workers, will remain shut until July 20, the Vietnamese government said in a statement, adding many of the 177 infection cases detected in the province were from the factories.

Nike did not respond to Reuters request for comment outside U.S. business hours, while calls to Changshin went unanswered.

On Wednesday, Taiwan's Pou Chen Corp, which makes footwear for Nike Adidas, suspended operations at its plant in Ho Chi Minh City. The plant will be closed until July 23 for "health and safety considerations," the company said, adding it did not expect a major financial impact.

Vietnam had until recently successfully contained coronavirus outbreaks, with limited disruption to its crucial manufacturing sector. However since late April, it has seen record cases on many days this month, most of those in the commercial hub Ho Chi Minh City and its neighboring industrial provinces of Dong Nai and Binh Duong.

The country has recorded 38,200 infections and 138 deaths overall, a vast majority of those since May.

Almost all of Nike's footwear is manufactured outside the United States. The company has said contract factories in Vietnam produced about 50% of total Nike brand footwear in fiscal 2020, but did not specify the volumes that came from Changshin or Pou Chen.

The latest resurgence in virus cases could signal another hiccup for the world's largest sportswear chain in 2021, after container shortages and U.S. port congestion held up Nike's inventory earlier in the year.

"Having the factories shut for one or two weeks for Nike is going to cause a massive problem for its supply chain," China Market Research Group analyst Shaun Rein said, adding the shutdown would lead to price hikes.

Nike also saw its China sales take a hit after calls to boycott global brands for their comments around forced labor in Xinjiang.

Eclat Textile Co, a Taiwan-based garment and fabric supplier, has suspended production at its Dong Nai plant until July 17, it told the Taipei stock exchange.

(Additional reporting by Ben Blanchard in Taipei, Joyce Lee in Seoul and Aishwarya Venugopal in Bengaluru; Editing by Ed Davies, Martin Petty and Shinjini Ganguli)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADIDAS AG -4.78% 124.02 Delayed Quote.-48.56%
ECLAT TEXTILE CO., LTD. 2.45% 418 End-of-day quote.-33.76%
MSCI TAIWAN (STRD) 0.22% 465.029 Real-time Quote.-35.75%
NIKE, INC. -3.90% 94.85 Delayed Quote.-40.78%
POU CHEN CORPORATION 5.53% 29.6 End-of-day quote.-10.71%
All news about ECLAT TEXTILE CO., LTD.
08/04Eclat Textile Co., Ltd. Reports Earnings Results for the Second Quarter and Six Months ..
CI
08/04Eclat Textile : The board of directors of the Company approves removal of the non-compete ..
PU
08/04Eclat Textile : To announce the new appointment of Vice Chairman
PU
08/04Eclat Textile : Board of Directors approved the 2022Q2 consolidated financial statements
PU
08/04Eclat Textile Co., Ltd. Announces Appointment of Shu-Wen Wang as Vice Chairman
CI
08/02Eclat Textile : is invited to attend Investor Conference held by SinoPac Securities
PU
06/15Eclat Textile : Announcement of the ex-dividend record date in 2022
PU
06/14Eclat Textile : Announcement of the important resolutions of 2022 Annual General Sharehold..
PU
06/13Eclat Textile : Clarification of mass media reporting on Jun 13, 2022
PU
05/06Eclat Textile Co., Ltd. Reports Earnings Results for the First Quarter Ended March 31, ..
CI
More news
Financials
Sales 2022 42 685 M 1 343 M 1 343 M
Net income 2022 7 194 M 226 M 226 M
Net cash 2022 1 382 M 43,5 M 43,5 M
P/E ratio 2022 15,6x
Yield 2022 4,00%
Capitalization 112 B 3 523 M 3 523 M
EV / Sales 2022 2,59x
EV / Sales 2023 2,52x
Nbr of Employees -
Free-Float 69,7%
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Technical analysis trends ECLAT TEXTILE CO., LTD.
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Last Close Price 408,00 TWD
Average target price 476,00 TWD
Spread / Average Target 16,7%
EPS Revisions
Managers and Directors
Chun Chin Tsai Co-General Manager & President-Fabric Division
Kun Tang Chen Co-General Manager & Director
Jen Chieh Lo Director, Head-Finance & Accounting
Chen Hai Hung Chairman, Head-Research & Development
Cheng Ping Yu Independent Director
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