Since their IPO in 2019, SBF Group shares (SBFG3) have risen 55.1%. The group owns the Centauro chain of stores, physicalwho is the official distributor of Nike in Brazil, and NFB (which concentrates the digital channels Desimpedidos, Accelerados and Falcão 12).
But recent times have not been good for the company. The asset lost almost everything it had gained (49%) in the last 12 months. Today, around 3 p.m., the stock was trading in the red, falling 6.23% to 18.83 reais. Even so, Goldman Sachs believes in the growth potential of the business and estimates a 79% appreciation in the role for the next 12 months.
With a plan to build five Nike stores by 2022, the company said another 50 could open in Brazil, especially since there are currently 20 Nike stores in Argentina.
These stores are more focused on the assortment of women’s products, in a model similar to Nike stores To go up – which presents itself as a mix between the digital and the physical. Another highlight is casual sportswear, which gained a lot of space during the quarantine when home office workers sought out more comfortable clothing.
THE physical also intends to accelerate its sales on the digital channel, in particular with the launch of the Nike application in Brazil. Today, app sales account for 50% of Centauro’s digital revenue. The Nike brand, according to the company, is 1.2 times larger than its nearest competitor in Brazil.
“Management has taken an optimistic tone in its outlook for the next few years, with the expectation that the organic expansion plan could lead to approximately two-fold sales growth and four-fold net income over the next few years. next four years, which is largely in line with our expectations,” the American bank published, following a meeting with investors organized by the company this week. It was the first “Investor Day” since Centauro’s IPO. And what are other companies saying about the stock?
BTG also participated in the “Investor Day” and recommends the purchase, with a target price of R$34.
“SBF also commented on plans to diversify its product portfolio, increasing exposure to different sports (four sports categories currently account for 80% of sales) and new categories (e.g. casual and womenswear),” said published BTG, after date.
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