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Liberum downgrades Pets at Home, upgrades Supergroup post Brexit

Tue, 05th Jul 2016 09:15

(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 inputs.On the other hand, it highlighted a preference for specialists who are relatively more defensive and those that still have margin upside, are generating a superior rate of return on capital employed and have strong balance sheets.Liberum's key 'buy' is Boohoo, which it likes for its positive outlook and strong international growth and Jimmy Choo for its brand and positive forex dynamics.Other key buys are B&M for its strong market position and high cash generation, and Hotel Chocolat thanks to its strong brand, market position and margin upsideThe brokerage upgraded Supergroup to 'buy' from 'hold' on valuation grounds, noting the stock is trading some 6% below its long-term average.It cut Card Factory to 'hold' from 'buy' saying the stock was up with events on valuation and highlighting FX headwinds pressure in outer years.Liberum downgraded its stance on discount retailer Poundland to 'sell' from 'hold'. It said the shares were underpinned by a potential bid but in the event this does not happen there is 40% downside risk.Finally, it double downgraded Pets at Home to 'sell' from 'buy' citing a more volatile top line and margin pressures."Reflecting on the prelims and Brexit risks, we believe near-term headwinds have strengthened. FY16 performance suggested that revenues may be more volatile than we had expected and margin expansion has likely been pushed further out."We still acknowledge the company's strong market shares, improving multi-channel offering and the longer-term growth opportunity in Services. However, we see further downside risk before the shares make any substantial gains."At 0945 BST, Pets shares were down 8.6% to 210.29p, Card Factory was down 5.5% to 305.60p, Supergroup was off 0.9% at 218p and Poundland was down 1.4% to 200p.

More News

20 Jan 2017 15:51

Directors dealings: Supergroup founder Dunkerton pares stake

(ShareCast News) - Supergroup founder Julian Dunkerton sold a hefty amount of shares in the £1.25bn market cap fashion retailer, even as its shares continued to trade near their record highs. Dunkerton, who is also the FTSE 250-listed company´s product and brand director hived off 392,156 shares at

16 Jan 2017 13:32

Ex-divs to take 2.6 points off FTSE 100 on Jan. 19

LONDON, Jan 16 (Reuters) - The following FTSE 100 companies will go ex-dividend on Thursday, after which investors will no longer qualify for the latest dividend payout. According to Reuters calculations at current market prices, the effect of the resulting adjustment to prices by market-make

12 Jan 2017 08:41

SuperGroup hikes dividend as Christmas sales accelerate

(ShareCast News) - Amid troubled times for some more established clothing retailers, SuperGroup, the owner of the Superdry fashion brand, lifted its interim dividend by a quarter after a half year where sales and profits grew strongly in the UK and gained traction in the US and China. And in the 10

10 Nov 2016 08:39

LONDON MARKET OPEN: Stocks Add To Trump Bounce

10 Nov 2016 08:38

BUZZ-SuperGroup: best day in 4 mths on H1 sales beat

** SuperGroup +7.6%, biggest one-day rise since mid-July ** H1 retail LfL +12.8% (well ahead of +2.6% consensus flagged by Liberum) ** Top of FTSE 250 and among most actively traded stocks on the index (RM: tricia.wright1.thomsonreuters.com@reuters.net)

10 Nov 2016 07:55

TOP NEWS: SuperGroup Sales Surge But Gross Margin Squeezed

10 Nov 2016 07:47

Supergroup surges as it posts jump in H1 sales, says FY profit will meet views

(ShareCast News) - Supergroup shares surged on Thursday after the FTSE 250 owner of clothing brand Superdry reported a bigger-than-expected jump in first-half revenue and said it expects full-year profit to be in line with market expectations of £84.6m. In a trading update for the 26-week period to

17 Oct 2016 15:04

Clothing retailers' sales decline again, Kantar criticises discounting

(ShareCast News) - UK clothing retailers have seen sales fall for four months in a row, according to a survey published on Monday that criticised the industry's habit of over-buying and deep discounting. Since June saw the first fall in the value of the UK fashion market, data from Kantar Worldpanel

16 Sep 2016 15:09

UK Dividends Calendar - Next 7 Days

7 Sep 2016 15:03

UK Shareholder Meetings Calendar - Next 7 Days

18 Jul 2016 14:06

SuperGroup among FTSE 250 stocks going ex-div on Jul 21

LONDON, July 18 (Reuters) - There are no FTSE 100 companies going ex-dividend on Thursday, although two British mid-cap companies are set to trade without entitlement to their latest dividend payouts. Among FTSE 250 companies going ex-dividend are: COMPANY

15 Jul 2016 08:56

Friday newspaper share tips: Experian, Supergroup

(ShareCast News) - There's more to go for at Experian, The Daily Telegraph's Questor said, pointing to the recent successes by the company when it comes to product innovation and cultivating more communication between its business units. That innovation is serving the company well, allowing it to gr

14 Jul 2016 16:06

LONDON MARKET CLOSE: Stocks Mixed But Pound Higher After BoE Stays Put

14 Jul 2016 15:08

UK Dividends Calendar - Next 7 Days

14 Jul 2016 14:22

SuperGroup says diversification means well placed to weather Brexit fallout

LONDON, July 14 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, is well placed to weather sterling's depreciation in the wake of the Brexit vote thanks to its overseas expansion strategy, its boss said on Thursday. The firm, whose trademark jackets, hooded top

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Liberum downgrades Pets at Home, upgrades Supergroup post Brexit

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