Jefferies | A solid fourth quarter for Puig Brands (PUIG). The unclear outlook could influence the extent to which investors regain interest in the shares, but we believe that they continue to outperform their competitors at present. All three segments met the 6-8% forecast for fiscal year 2025, initially set in February 2025. Fragrances grew 1.3 times faster than the luxury category in fiscal year 2025, with 6.4% LFL in…

Renta 4 | The luxury retailer Saks has filed for Chapter 11 bankruptcy protection in the United States, with the aim of facilitating the restructuring of its debt, which is estimated to exceed €700 million. Saks’ creditors include leading global luxury companies such as Chanel, Zegna, LVMH, Christian Louboutin, The Estée Lauder, Giorgio Armani, Google, Burberry and Dolce & Gabbana. In the case of Puig Brands, the debt would amount…

Singular Bank | The IBEX 35 closed yesterday at a new high above 17,650 points. The day was marked by the rise of Puig Brands, which rose 5.7% after BNP Exane gave it a potential upside of 22% to €18 per share. In addition, the research firm has decided to upgrade its recommendation on the stock to “overweight” from the previous “neutral”. Also this week, Jefferies analysts maintained their “buy”…

Alphavalue / Divacons | The Spanish cosmetics company presented its Q3 2025 trading update yesterday after the close of trading. Net sales of €1.3 billion (up 3.2% year-on-year) compared to the €1.28 billion expected by the consensus. These quarterly results exceeded expectations, driven by exceptional momentum in the Makeup segment and continued strength in Asia. The makeup segment benefited significantly from Amazon’s new distribution channel, which accounted for approximately half…