The darling of the high street

Tom Welsh
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THE rocket that has gone off beneath Debenhams’s share price shows little sign of running out of fuel. Having breezed past a 2009 high around 100p per share, it now sits at levels not seen since late 2007. Overseas expansion and a store revamp have helped drive sales growth, providing a welcome change from the doom that pervades most of the UK’s high street. Full year numbers this week will hopefully confirm the improvement, with a suitably optimistic outlook. IG quotes 111-112p for Debenhams.

Vodafone appears to be another company on the rise. It has recently benefited from a ruling that allows operators to roll out 4G services earlier than initially expected. As consumers switch from traditional handsets to smart phones, the company is set to capitalise. Vodafone’s 45 per cent stake in Verizon has also paid dividends. Spread Co quotes 176.80-177.10p for Vodafone.

Sports Direct has been the darling of the stock market this year, seeing its share price rise almost 100 per cent – from just over 200p to over 400p in 2012 alone. No matter what the situation in the broader economy, we are still a sports-loving nation, as proven by this year’s Olympics. Wednesday’s trading statement might bring more good news for investors. Capital Spreads quotes 411.8-413.7p for Sports Direct.

ARM Holdings’s numbers are due today, amid expectations of strong licensing growth. Consensus revenue is at £140m, with earnings per share at 3.6p. Importantly, Microsoft’s Windows 8 is due out on 28 October, paving the way for ARM chips to be installed in tablets that use the new operating system. ETX Capital quotes 590.03- 591.47p for ARM Holdings.