13 Jul 2016 11:02
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Don't have an account? Click here to register.Jimmy Choo revenue grows, on track for full year
Fri, 18th Nov 2016 07:41
(ShareCast News) - Luxury retailer Jimmy Choo reported revenue growth for the second half on Friday and said it was on track to deliver full-year underlying profits in line with expectations.In an update on trading since the end of June, the company said it was seeing revenue growth despite the continued difficult climate for the luxury industry, driven by new store openings and improving retail trading in all regions in the second half, with China especially strong.During the period, it has opened four new directly operated stores, one in each region, while three stores - including the flagship store in Milan - were converted to the new store concept.The company said its like-for-like date in the second half has moved back into positive territory despite this disruption.Jimmy Choo said it expects to deliver margin improvement and strong underlying cash generation for the full year thanks to its focus on improving operating efficiency and cost management.In addition, it said the weaker pound continues to have a positive impact, as do the resultant changes in client behaviour, notably in respect of the UK.Chief executive officer Pierre Denis said: "The company continues to grow and to build on the strength of the brand and new store openings. We look forward to achieving another record year despite the challenging backdrop, and remain on track to deliver underlying profits in line with expectations."RBC Capital Markets reiterated its 'outperform' rating and 165p price target on the stock."Today's IMS demonstrates Jimmy Choo's strong execution in a difficult luxury environment, which we expect to be positively received by the market. We like its under-appreciated, long-term growth potential, with company specific levers for revenues (store roll-out, franchise conversions, Men's,) and margins (channel mix, product availability, renovations and operating leverage)."At 1020 GMT, the shares were up 2.6% to 132.15p.
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5 Jul 2016 10:02
Broker tips: UK retailers, Petrofac, Whitbread
(ShareCast News) - Liberum revisited its stance on UK general retailers on Tuesday in light of the more uncertain outlook following the vote to leave the European Union. The brokerage said it was more cautious on the generalists, given their UK exposure and in many cases high exposure to US dollar i
Read more5 Jul 2016 09:15
Liberum downgrades Pets at Home, upgrades Supergroup post Brexit
(ShareCast News) - Liberum revisited its stance on UK general retailers on Tuesday in light of the more uncertain outlook following the vote to leave the European Union. The brokerage said it was more cautious on the generalists, given their UK exposure and in many cases high exposure to US dollar
Read more1 Jul 2016 10:10
HSBC reiterates 'buy' but cuts target price on Jimmy Choo
(ShareCast News) - HSBC maintained its 'buy' rating on Jimmy Choo on Friday, after the luxury shoe maker said it was off to a good start to the year. In Jimmy Choo's 15 June trading update, it said had been trading in line with expectations so far this year despite tough trading conditions. The gro
Read more20 Jun 2016 09:25
ITV, Wolseley are Liberum's top-picks in case of Bremain, Brexit
(ShareCast News) - Depending on whether the UK finally decided to 'Remain' or 'Leave' then different London-listed securities were likelier to 'outperform' their respective sectors, Liberum said. The broker's 'top-picks' under a 'Remain', 'Leave' and 'Either way' scenario were, ITV, Wolseley and Bal
Read more15 Jun 2016 16:04
15 Jun 2016 11:02
Broker tips: Wood Group, Jimmy Choo, Lonmin
(ShareCast News) - Shares in oil and gas services company Wood Group rose on Wednesday as Jefferies initiated its rating on the stock at 'buy'. "The company, in our view, has executed a far more coherent growth/mergers and acquisitions strategy compared to UK Service peers, Amec Foster Wheeler and P
Read more15 Jun 2016 08:49
Liberum ups Jimmy Choo to 'buy' after trading update
(ShareCast News) - Liberum upgraded Jimmy Choo to 'buy' from 'hold' with an unchanged target price of 135p after the company's trading update. It said the update suggests Choo is showing resilience in a difficult market. Shares in the luxury goods maker shot higher on Wednesday after it said it had
Read more15 Jun 2016 07:25
Jimmy Choo striding ahead in new year
(ShareCast News) - Luxury goods maker Jimmy Choo said it had made a good start to the year and trading was in line with expectations despite headwinds facing the majority of the sector in 2016. "Jimmy Choo remains focused on controlled expansion and development of the retail portfolio whilst evolvin
Read more