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Ted Baker Share News (TED)
Share News for Ted Baker (TED)
| Share Price: 1,414.00 | Bid: 1,414.00 | Ask: 1,418.00 | Change: -6.00 (-0.42%) |  | ||||||
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UPDATE 1-Seymour Pierce cuts UK general retail sector
Mon, 21st May 2012 10:35
* Cuts Kingfisher to 'hold' from 'buy', target price to 290p from 340p
* Trims Next ta
* Slashes Home Retail target price to 70p from 95p
(Follows alerts)
May 21 (Reuters) - U.K. retailers are likely to be hurt by a slowdown in orders from European markets and the difficult trading conditions, said Seymour Pierce as it downgraded the general retail sector to 'underweight'.
Seymour downgraded Europe's biggest home improvements retailer, Kingfisher, to 'hold' from 'buy' citing weaker trading in its core markets, including France, UK, China and Poland.
The brokerage also cut its price target on Britain's second-biggest clothing retailer, Next, to 3,000 pence from 3,300 pence, and on the country's biggest household goods retailer, Home Retail, to 70 pence from 95 pence.
European retailers are struggling as disposable incomes are squeezed by rising prices, muted wages growth and government austerity measures, and shoppers fret over the implications of the euro zone debt crisis.
'Internet sales will continue to cannabalise store-based revenues and lead to a general softening in prices. Gross margins are expected to be flat at best in a competitive market and costs are still rising,' analyst Freddie George wrote in a note to clients.
George slashed his earnings outlook for a number of retailers, including Home Retail and Marks and Spencer Group Plc , to reflect a more difficult UK trading environment.
British designer clothing brand Ted Baker, fashion retailers ASOS and SuperGroup, and mother and baby products retailer Mothercare are among those who are likely to see a negative earnings impact from their exposure to Europe, said the analyst.
The European retail sector index was up 0.01 percent at 234.04 points at 0840 GMT on Monday.
(Reporting by Aditi Sharma in Bangalore; Editing by Maju Samuel) Keywords: UKRETAILERS/RESEARCH SEYMOURPIERCE
(Aditi.Sharma1@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: aditi.sharma.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Cuts Kingfisher to 'hold' from 'buy', target price to 290p from 340p
* Trims Next ta
rget price to 3,000p from 3,300p
* Slashes Home Retail target price to 70p from 95p
(Follows alerts)
May 21 (Reuters) - U.K. retailers are likely to be hurt by a slowdown in orders from European markets and the difficult trading conditions, said Seymour Pierce as it downgraded the general retail sector to 'underweight'.
Seymour downgraded Europe's biggest home improvements retailer, Kingfisher, to 'hold' from 'buy' citing weaker trading in its core markets, including France, UK, China and Poland.
The brokerage also cut its price target on Britain's second-biggest clothing retailer, Next, to 3,000 pence from 3,300 pence, and on the country's biggest household goods retailer, Home Retail, to 70 pence from 95 pence.
European retailers are struggling as disposable incomes are squeezed by rising prices, muted wages growth and government austerity measures, and shoppers fret over the implications of the euro zone debt crisis.
'Internet sales will continue to cannabalise store-based revenues and lead to a general softening in prices. Gross margins are expected to be flat at best in a competitive market and costs are still rising,' analyst Freddie George wrote in a note to clients.
George slashed his earnings outlook for a number of retailers, including Home Retail and Marks and Spencer Group Plc , to reflect a more difficult UK trading environment.
British designer clothing brand Ted Baker, fashion retailers ASOS and SuperGroup, and mother and baby products retailer Mothercare are among those who are likely to see a negative earnings impact from their exposure to Europe, said the analyst.
The European retail sector index was up 0.01 percent at 234.04 points at 0840 GMT on Monday.
(Reporting by Aditi Sharma in Bangalore; Editing by Maju Samuel) Keywords: UKRETAILERS/RESEARCH SEYMOURPIERCE
(Aditi.Sharma1@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 4135 5800; Reuters Messaging: aditi.sharma.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Ex-divs to take 10.91 points off FTSE 100 on May 8
LONDON, May 6 (Reuters) - The following FTSE 100 companies will go ex-dividend on Wednesday, after which investors will no longer qualify for the late[6 May '13]
UPDATE 2-Next, H&M feel chill of weather and recession
* Next 2012-13 profit 621.6 mln stg, in line with forecasts* Next says first few weeks of new year quiet* Next tempers 2013-14 sales growth guidance t[21 Mar '13]
UPDATE 1-Ted Baker profit boosted by overseas expansion push
* FY profit up 16.5 pct to 31.5 mln stg* Revenue up 18 pct to 254.5 mln stg* Says new year started well, more openings plannedLONDON, March 21 (Reuter[21 Mar '13]
FACTBOX-How UK retailers fared over Christmas
LONDON, Jan 25 (Reuters) - With British shoppers fretting over job security and a squeeze on incomes, retailers found the going tough in 2012.[25 Jan '13]
FACTBOX-How UK retailers fared over Christmas
LONDON, Jan 17 (Reuters) - With British shoppers fretting over job security and a squeeze on incomes, retailers found the going tough in 2012.[17 Jan '13]
FACTBOX-How UK retailers fared over Christmas
LONDON, Jan 16 (Reuters) - With British shoppers fretting over job security and a squeeze on incomes, retailers found the going tough in 2012.[16 Jan '13]
FACTBOX-How UK retailers fared over Christmas
LONDON, Jan 15 (Reuters) - With British shoppers fretting over job security and a squeeze on incomes, retailers found the going tough in 2012.[15 Jan '13]
FACTBOX-How UK retailers fared over Christmas
LONDON, Jan 11 (Reuters) - With British shoppers fretting over job security and a squeeze on incomes, retailers found the going tough in 2012.[11 Jan '13]
