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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.
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19 Mar 2015 13:44

FTSE 250 movers: Retailers and energy stocks surge, ex-dividend insurers lower

Supergroup made strong gains after Investec said a focus on retail execution and UK profit maximisation was a "major opportunity". The broker reiterated its 'buy' rating, with analyst Kate Calvert adding: "We see material growth opportunities, not only in maximising UK profitability by optimising it

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12 Mar 2015 17:30

Thursday broker round-up

Asos: Cannacord Genuity raises target to 3,250p from 2,520p and reiterates hold. Cambian Group: Cannacord Genuity lifts target to 311p from 294p and reiterates buy. BP: JP Morgan raises target to 410p from 400p and reiterates underweight. Royal Dutch Shell: Investec reiterates hold. Supergroup: C

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25 Feb 2015 14:21

FTSE 250 movers: Petrofac beats analysts' expectations, AO World and Supergroup drop

Petrofac topped the risers as profits came in above analysts' expectations, albeit towards the bottom of the company's own guidance. Chief executive Ayman Asfari said the company was well positioned to deal with the oil industry's declining prices, as the group ended the year with a record-breaking

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25 Feb 2015 11:38

UK WINNERS & LOSERS: AO World Shares Dive On Profit Warning

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25 Feb 2015 09:56

UPDATE 1-SuperGroup's finance chief quits after being declared bankrupt

(Adds details, analyst reaction, shares) By Paul Sandle LONDON, Feb 25 (Reuters) - SuperGroup Plc, the owner of the Superdry fashion brand, said on Wednesday its finance chief Shaun Wills had quit after being declared bankrupt two weeks ago. Wills, who is a qualified accountant,

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25 Feb 2015 08:33

UK MORNING BRIEFING: Weir Group Falls On Poor 2015 Outlook

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25 Feb 2015 08:00

Supergroup boardroom upheaval continues as CFO replaced

In four months under the whip of new chief executive Euan Sutherland, Supergroup has parted company with half the executives on the board after chief financial officer Shaun Wills was issued marching orders on Wednesday. Wills' departure, which was branded "bizarre" and a "genuine shock", comes just

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25 Feb 2015 07:48

SuperGroup CFO Leaves After Being Declared Personally Bankrupt

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25 Feb 2015 07:25

SuperGroup's finance chief leaves after he was declared bankrupt

LONDON, Feb 25 (Reuters) - SuperGroup plc said its finance chief Shaun Wills had stepped down after the company learnt he was the subject of a personal bankruptcy order earlier this month. The owner of the fashion brand Superdry said on Wednesday Nick Wharton, previously chief executive of

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12 Feb 2015 12:13

Supergroup surprises as COO squeezed out

Supergroup has parted company with chief operating officer Susanne Given, with the shock announcement sending the shares lower on Thursday afternoon. Given has departed with immediate effect "to explore other opportunities", less than four months since new chief executive Euan Sutherland took the re

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12 Feb 2015 09:33

UPDATE 1-SuperGroup operations chief abruptly leaves

(Adds detail, spokesman, analyst comment, shares) LONDON, Feb 12 (Reuters) - SuperGroup, the British firm behind the Superdry fashion brand, is parting company with its chief operating officer four months after it recruited the former boss of the Co-op to be its new chief executive. T

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12 Feb 2015 07:35

SuperGroup COO to leave firm

LONDON, Feb 12 (Reuters) - SuperGroup, the British firm behind the Superdry fashion brand, has parted company with its chief operating officer. The firm said on Thursday that Susanne Given, who joined SuperGroup in 2012, has stepped down from the board as a director with immediate effect an

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12 Feb 2015 07:21

SuperGroup COO Susanne Given Leaves Company

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10 Feb 2015 15:50

Superdry clothing stores to open in Russia

MOSCOW, Feb 10 (Reuters) - Azerbaijan's PNN Group will open two stores selling SuperGroup's Superdry clothing label in Russia in the coming months, despite gloomy expectations for consumer sentiment due to a slump in the rouble and a foundering economy. SuperGroup said two franchised stores

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9 Feb 2015 13:51

FTSE 250 movers: Miners and oil companies trading higher, Halma hit by downgrade

Halma took its biggest one day fall since May 2010, as JP Morgan downgraded the stock from 'neutral' to 'underweight'. Man Group was among the fallers despite an increased price objective from analysts at Liberum Capital, from 145p to 213p. Polymetal International and Kaz Minerals were putting in d

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