2336 GMT - Breville plans to sell directly into China and Citi thinks the appliance maker's learnings from South Korea could increase its chances of success there. Analyst Sam Teeger notes that both markets are highly digital, with 98% of Breville products in China already sold online. Breville launched in South Korea in June 2022 and it has already surpassed New Zealand in terms of gross profit. That suggests Breville may have found an approach that works well with markets that mainly transact online, Citi says. "Taking this into consideration, as well as the 32% increase in disposable income that Breville is exposed to from direct entry into China, we see this as a significant opportunity," Citi says. It retains a "neutral" call on Breville's stock. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 11, 2025 18:36 ET (23:36 GMT)
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