Li & Fung Ltd. jumped the most in more than five years in Hong Kong trading after saying it will spin off a branded business whose products include Coach Inc. shoes and posting profit that beat analyst estimates.
Li & Fung Ltd., the Wal-Mart Stores Inc. supplier that doubled its workforce after at least 11 acquisitions in the past year, may need to make still more deals to meet its earnings targets.
Li & Fung Ltd. , the biggest supplier to retailers including Wal-Mart Stores Inc. and Esprit Holdings Ltd. , named President Bruce Rockowitz as chief executive officer, driving up the company’s stock.
"Customers are asking whether now is the time to buy after seeing news about police removing the barricades."
- William Fung on Oct 13, 2014