Demand for Burberry is still booming October 12, 2011 LUXURY goods group Burberry batted away fears of an economic slowdown in its key Chinese market yesterday as it unveiled forecast-beating results. Revenues for the three months to September hit £463m – above a forecast for £448m by a poll of analysts. Luxury goods stocks have fallen sharply in recent weeks on signs of an [...]
ANALYST VIEWS: CAN BURBERRY MAINTAIN ITS SALES MOMENTUM? October 12, 2011 RICHARD HUNTER HARGREAVES LANSDOWN The company intends to continue its expansion plans, whilst remaining flexible in tapping on the brakes should circumstances dictate. Continuing investment in its business will of course weigh on profit in the medium term, whilst the company could become a victim of its own success given increasingly tough comparatives. Even so, [...]
CHINA IS KEY TO A FURTHER RALLY IN RISK October 11, 2011 AS global markets stabilised last week in the wake of better than expected US employment data, the bulls breathed a sigh of relief that the broad sell-off in risk assets may be finally over. Last week’s better than expected economic data may have quelled concerns that the world is headed for a double dip recession, [...]
A sound pound is nowhere to be found October 11, 2011 ALPARI JAMES HUGHES The pound has come back into focus at the start of the week after last week’s surprise announcement of further asset purchases by the Bank of England. Monday’s fall in sterling was in part due to MPC policymakers suggesting that the extra £75bn of QE announced last week could well be the [...]
Miners peg back FTSE as investors eye Slovak vote October 11, 2011 European shares slid this morning as investors eyed a key vote in Slovakia on whether it will back the Eurozone rescue package. The FTSEurofirst 300 index of top European shares was down 0.6 per cent while London’s blue chip index also edged down as miners opened weakly. Analysts said traders were cautious ahead of the [...]
Chinese shoppers splash out after fashion week October 9, 2011 THE West End was boosted last month by record sales to Chinese shoppers in a wave of spending triggered by London Fashion Week. There was a 59 per cent increase in tax free shopping sales to tourists from the country in September compared with the previous month. The figures from Global Blue, which analyses shopping [...]
Key week for Burberry amid China worries October 9, 2011 INVESTORS will be eagerly awaiting first half figures from Burberry this Wednesday, as the luxury fashion house seeks to reassure that its expansion remains on track despite uncertainty in key Asian markets. Amid general market turmoil and fears over a slowdown in the Chinese economy, which accounts for 15 per cent of the company’s retail [...]
Spirits dampened by struggles in Asia but strong sales should boost morale October 9, 2011 THERE’S no need to panic just yet. Shares in Burberry may be down 25 per cent over the past ten days alone, but the drop is put into context by the massive 900 per cent they’ve risen since their lowest point during the 2008 crisis. And rather than retreating at the first sign of a [...]
Citic fails to impress as its shares float in Hong Kong October 6, 2011 CITIC Securities, China’s largest listed brokerage, made a weak debut in Hong Kong yesterday, underscoring poor appetite for new share sales in the face of global market volatility. Its stock fell as much as 10.5 per cent before closing unchanged, while the broader Hong Kong index ended up nearly six per cent. The disappointing start [...]
Microsoft may bid for Yahoo October 5, 2011 SOFTWARE giant Microsoft is considering making a fresh bid for Yahoo in its second attempt to buy the troubled internet company in three years, sources close to the situation told Reuters yesterday. Microsoft joins a number of other potential buyers looking at Yahoo, which has a market value of about $18bn (£11.7bn). Among the interested [...]