There is a smattering of noteworthy results on offer this week. One of the UK’s oldest high street names, WH Smith (SMWH) releases its finals on Thursday. Again, broker Deutsche Bank has reiterated its “Buy” recommendation, and upped its target price for the retailer from 800p to 915p. UK bank Barclays also increased its target price from 875p to 935p, keeping an “Overweight” rating. On August 22nd, WH Smith said it expected its full year results to be in line with market expectations as it continues to focus on tight cost control and improving margins. In June WH Smith warned that like-for-like sales fell 6% year-on-year across the group for the 14 weeks to June 8th; this prompted analysts to question how long the retailer could continue with falling sales as it executes its turnaround plan.
10 Jun '13
or not to short? That is the question.
12 Mar '13
Asda looking to buy HMV
Apparently not just a few branches to convert to convenience stores as Morrisons have already done. http://www.retail-week.com/sectors/entertainment/asda-in-talks-to-buy-bust-hmv/5047195.article?blocktitle=More-News-and-Insight&contentID=5271
11 Mar '13
And Primark are at it too
Primark to sell music CDs in some UK stores http://www.bbc.co.uk/news/entertainment-arts-19783564 GLA
11 Mar '13
WH Smith brings back DVDs after HMV
failure. "The stationery retailer WH Smith is returning to the CDs and DVDs market following the collapse of HMV" http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9919996/WH-Smith-brings-back-DVDs-after-HMV-failure.html
23 Jan '13
The market analyst reaffirmed its 2013 full-year results forecast of £106.9m (consensus £105.8) rising to £113.4m (consensus £111.3m) in 2014. It also reiterated its 'buy' recommendation and 750p price target. Ahead of the trading update, forecasts suggested the retailer would report decline in like-for-like sales with as much as 5.0% at its High Street stores. Nevertheless, WH Smith's shares rose more than 5.0% Tuesday after Numis upgraded the stock to 'add' with a target price of 710p.
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