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Textile & Apparel: 1Q20 update: Tough time to linger – Update

Sector note 29/04/2020    297

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  • As at 15 Apr, the year-to-date Vietnam’s garment export value fell 6.0% yoy, while fibre and yarn export value slumped 6.6% yoy.
  • T&A might be hit more severely in 2Q20F from demand side, in our view.
  • Among T&A stocks, our top pick is STK thanks to its solid position to recover post-pandemic.

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