Li & Fung sees double-digit drop in organic growth in Europe
HONG KONG Nov 15 (Reuters) - Li & Fung Ltd, a manager of supply chains for global retailers including Wal-Mart Stores Inc and Target Corp, said on Thursday it expects single-digit organic growth in the United States, but a double-digit drop in Europe.
The company gave the forecast to analysts during a business update, although it did not provide a time frame.
Shares of Li & Fung were down nearly 2 percent in Hong Kong, lagging a 1.2 percent drop in the broader index. (Reporting By Donny Kwok; Editing by John Mair)
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