Phu Nhuan Jewelry forecasts $241 million loss following diamond-smuggling scandal
Bloomberg reports Vietnam’s largest listed jewelry retailer plans to slash its 2026 revenue target and is setting aside a large provision for customer buybacks.
TLDR
Bloomberg reports Phu Nhuan Jewelry forecasts a 6.27 trillion dong ($241 million) loss and plans to slash its 2026 revenue target. The retailer is setting aside a large provision for customer buybacks following a diamond-smuggling scandal.
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