BUZZ-Australia's Breville at 3-month low on potential tariff impact post Trump win

Reuters
2024-11-07
BUZZ-Australia's Breville at 3-month low on potential tariff impact post Trump win

** Breville Group BRG.AX falls as much as 5.4% to A$30.42, its lowest since Aug. 20

** Home appliances maker says it will aggressively build an U.S. inventory as Donald Trump's win solidifies risk of higher tariffs on Chinese imports

** Accelerates plan to move production out of China on a product-by-product basis

** RBC Capital says, "Increased inventory build will be a negative insofar as it would increase BRG's working capital intensity. However, its demonstrated ability to manage through elevated COVID inventory levels... should give investors some comfort this time around"

** Shares log biggest intraday pct loss since Sept. 16

** More than 357,178 shares traded vs 30-day avg of ~258,216

** BRG up 11.72% YTD

(Reporting by Roushni Nair in Bengaluru)

((Roushni.Nair@thomsonreuters.com;))

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