Disclosures&DisclaimerThisreportmustbereadwiththedisclosuresandtheanalystcertificationsintheDisclosureappendix,andwiththeDisclaimer,whichformspartofit.Issuerofreport:HSBCSecurities(USA)IncViewHSBCGlobalResearchat:https://www.research.hsbc.comVotingextended–clickheretovote2020InstitutionalInvestorsurveyIfyouvalueourserviceandinsights,pleasevoteIIResearchhasacquiredtheExtelsurveyTHISCONTENTMAYNOTBEDISTRIBUTEDTOMAINLANDCHINALookingatglobalconsumerbrands,weseeaclearpathforsalestoreboundinAsia……butwhilethatisencouraging,storesaremostlyshutinEuropeandtheUSReadourcommentsonourChina-exposedconsumercoverageandpleasecontactouranalystsforcallsChinaFIFO,West...