LVMH sales remain slow October 19, 2009 LVMH, the French luxury goods firm, said its third-quarter sales fell by 0.6 per cent after demand remained poor. But the firm, which produces brands like Moet champagne and Louis Vuitton fashion, said destocking of its top-end labels should come to an end soon. It reported sales of €4.14bn (£3.8bn), versus €4.16bn a year earlier. [...]
West End delivers boost for London sales growth October 18, 2009 LONDON retail sales in September had their strongest growth since August last year due to a wave of renewed consumer confidence, according to figures out today from the London Retail Consortium. Retail sales in central London were 7.5 per cent higher on a like-for-like basis in September than a year ago, when sales nosedived to [...]
BEST OF THE BROKERS October 15, 2009 BURBERRY GROUPEvolution Securities said that Burberry’s first-half trading update beat expectations once again, supporting the broker’s view that the brand is likely to continue to outperform in the currently environment. Evo upgraded its full year earnings per share forecast by almost four per cent, and upgraded the shares to “buy”. CONNAUGHTNoble said that, behind the [...]
Demand for luxury goods aids Burberry October 14, 2009 Luxury fashion retailer Burberry yesterday smashed City forecasts as shoppers rushed to get this season’s latest handbags and accessories. Burberry reported revenue of £343m in the three months ended 30 September, down five per cent at constant currencies, but ahead of analyst forecasts of £320m to £335m. Chief financial officer Stacey Cartwright said the group [...]
BEST OF THE BROKERS October 12, 2009 BURBERRY GROUPDeutsche Bank raised its target price for Burberry to 620p, with a “buy” recommendation, ahead of the retailer’s second quarter sales update tomorrow. The broker said that expectations appear to be reasonably high, but that it believes that, most significantly, excess inventory will have been cleared through. DUNELM GROUPInvestec said that the recent placing [...]
FTSEcloses at one-year high as energy and mining rally October 12, 2009 RALLYING energy stocks and miners, spurred by firmer commodity prices and growing optimism on the corporate outlook and global economy, helped the top share index to its highest close in over a year yesterday. Global equity markets were given a shot in the arm by forecast-beating results from Philips ahead of earnings from other major [...]
Attention turns to the pub as leisure sector steps out October 11, 2009 This week will give us a glimpse of how consumers are spending their time, with Whitbread, Punch Taverns and PartyGaming all reporting. But it will be opinion-polling firm YouGov that gets a reaction from investors today, as it reports its full-year results. The company said in July that it was beginning to see the benefits [...]
LONDON CALLING BURBERRY September 22, 2009 Burberry made its London comeback last night as it closed the 25th London Fashion Week. The 153-year old British designer showed its main 2010 spring-summer collection, Prorsum, and was joined at the show by other homegrown brands including Matthew Williamson.
Miners gain the most in 2009 so far September 22, 2009 MINING stocks have seen the biggest recovery in value of all FTSE 100 constituents so far this year, according to Thomson Reuters Datastream figures. An increased demand from the construction sector and improved confidence in a global economic recovery have driven mining shares higher, meaning that seven companies from within the sector are in the [...]
Brit talent returns to Fashion Week September 20, 2009 LONDON Fashion Week kicked off with the usual smatterings of fresh new talent over the weekend, but all minds were fixed on the return to the UK of iconic brands Burberry, Pringle and Matthew Williamson. Williamson, who earlier this year unveiled a fashion line for high-street giant H&M, yesterday returned after seven years in New [...]