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SMALL-CAP WINNERS & LOSERS: Bruising session for retail stocks

Thu, 16th Jun 2022 10:55

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

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SMALL-CAP - LOSERS

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Asos PLC, down 27% at 848.00 pence, 12-month range 835.5p-5,242.74p. Lowers annual guidance after third quarter hit by inflationary pressures and a high clothing return rate, though the online retailer successfully ended its search for a new chief executive. In three months to May 31, revenue declined 0.5% to GBP983.4 million from GBP987.9 million a year earlier. Asos says full-year sales are now expected to grow in a range of 4% to 7%, "reflecting market volatility and an increased returns rate". It expects to take a gross margin hit of between 150 basis points and 200 basis points amid elevated returns. Adjusted pretax profit was given in a new range of GBP20 million to GBP60 million. In January, and before the outbreak of war in Ukraine, Asos had guided to revenue growth around 10% to 15% and adjusted pretax profit of GBP110 million to GBP140 million.

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THG PLC, down 20% at 83.76p, 12-month range 70.5p-687p. Shares fall after suitors end their pursuit of the online beauty products seller. Belerion Capital Group Ltd confirms that it, together with King Street Capital Management LP, does not intend to make a takeover offer for the firm. The Belerion consortium made a proposal of 170 pence per share for THG. It had until the close of play on Thursday to decline whether or not to make a firm offer. Candy Ventures Sarl, owned by Nick Candy also confirms it does not plan on making an offer.

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Halfords Group PLC, down 19% at 159.50p, 12-month range 150.4p-441.8p. The motor and cycling products retailer offers up less than appetising outlook. In the year ended March 31, Underlying pretax profit drops to GBP89.8 million from GBP99.5 million, but was up from GBP56.9 million two years ago. Looking to financial 2023, Halfords is guiding for underlying pretax profit between GBP65 million and GBP75 million - which would be as much as a 28% drop from the recently ended financial year.

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Superdry PLC, down 6.2% at 146.6p, 12-month range 132.6p-468p. The clothing retailer falls following downbeat updates from online-only sector peers Asos and boohoo. Ted Baker falls 5.6%.

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By Lucy Heming; lucyheming@alliancenews.com

More News

20 Mar 2022 19:30

Sunday newspaper round-up: TTIP, Lloyds, Ted Baker

(Sharecast News) - German finance minister, Christian Lindner, is calling for a fresh push in the wake of the invasion of Ukraine to put in place a trade deal between the European Union and the US. The last attempt, known as the Transatlantic Trade and Investment Partnership (TTIP), was put to rest in 2016, during the Trump administration. In remarks made to Handelsblatt, Lindner said the conflict had made clear how important it is to foster free trade with partners who share the same values. He was speaking ahead of a planned visit to a NATO summit by US President Joe Biden later in March. - Sunday Telegraph

18 Mar 2022 17:29

FTSE 100 notches best week in over year

March 18 (Reuters) - British stocks ended near session highs on Friday, and the blue-chip index clocked its best weekly performance in over a year as investors digested negotiations over the Ukraine-Russia conflict and a dovish outlook from the Bank of England this week.

18 Mar 2022 16:53

LONDON MARKET CLOSE: Stocks edge higher in cautious end to busy week

(Alliance News) - European equities closed slightly higher on Friday, ending a stacked week in slightly muted fashion, though stocks grew in confidence over the course of the afternoon after Chinese leader Xi Jinping condemned Russia's invasion of Ukraine.

18 Mar 2022 12:22

LONDON MARKET MIDDAY: Stocks fall as Biden to press Xi over Russia

(Alliance News) - Stock prices in London turned lower at midday on Friday, with major power conflict top of mind ahead of the first call between the leaders of the US and China since Moscow's invasion of Ukraine.

18 Mar 2022 11:04

SMALL-CAP WINNERS & LOSERS: Ted Baker takeover interest lifts peers

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

18 Mar 2022 09:12

LONDON MARKET OPEN: Ted Baker surges as Sycamore mulls offer

(Alliance News) - Stock prices in London opened mixed on Friday as doubts emerged over Russia-Ukraine peace talks as Moscow's relentless assault on its neighbour continues.

18 Mar 2022 09:02

UPDATE: Private equity firm, Sycamore, confirms interest in Ted Baker

(Alliance News) - Ted Baker PLC has received interest from across the Atlantic, as a New York private equity firm confirmed it is considering a takeover offer.

18 Mar 2022 07:50

LONDON MARKET PRE-OPEN: Sycamore confirms Ted Baker takeover approach

(Alliance News) - Stock prices in London are seen opening higher on Friday, tracking a rise in US and Asian equities, as the conflict between Russia and Ukraine remains grim.

18 Mar 2022 07:35

US PE firm Sycamore considering bid for Ted Baker

(Sharecast News) - Shares of Ted Baker surged on Friday after US private equity firm Sycamore Partners confirmed it is in the early stages of considering a possible cash offer for the London-listed fashion retailer.

18 Mar 2022 06:54

PRESS: Private equity firm Sycamore eyes takeover move for Ted Baker

(Alliance News) - US private equity firm Sycamore Partners is mulling a takeover approach for London-listed fashion retailer Ted Baker PLC, Sky News reported on Friday.

8 Mar 2022 13:44

IN BRIEF: Ted Baker hires former Joules CFO as new finance chief

Ted Baker PLC - London-based clothing retailer - Appoints Marc Dench as chief financial officer, effective from Tuesday. Dench succeeds David Wolffe who has resigned with immediate effect "to pursue another opportunity", having been in post since early 2020. Dench joins from digital health platform Health Hero and previously was CFO at British lifestyle retailer Joules Group PLC for five years. Before Joules, Dench was CFO of the Global Brands & International Retail division of Walgreens Boots Alliance Inc.

8 Mar 2022 08:25

Ted Baker appoints Marc Dench as CFO as Wolffe steps down

(Sharecast News) - Fashion brand Ted Baker has appointed Marc Dench as chief financial officer with immediate effect.

23 Feb 2022 17:01

FTSE 100 climbs as Barclays, consumer staples boost sentiment

Feb 23 (Reuters) - UK shares rose on Wednesday aided by strong earnings from Barclays and gains in consumer staples on the back of a weaker pound, while investors awaited Russia's next move after Western sanctions were imposed on Moscow for ordering troops into separatist regions of eastern Ukraine.

23 Feb 2022 16:56

LONDON MARKET CLOSE: Relief rally stalls as Ukraine worries heighten

(Alliance News) - The FTSE 100 posted only fractional gains on Wednesday as a strong start to the session faded in the afternoon amid concerns over the Ukraine crisis and Russia's impending response to a raft of sanctions from the West.

23 Feb 2022 11:29

SMALL-CAP WINNERS & LOSERS: Ted Baker confident of wider profit margin

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Wednesday.

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