31 Oct 2014 10:59
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Don't have an account? Click here to register.SuperGroup tumbles as Liberum recommends taking profits
Tue, 15th Dec 2015 09:18
(ShareCast News) - SuperGroup traded sharply lower after Liberum downgraded the stock to 'hold' from 'buy', noting that the shares are up 85% since it upgraded them last December."With the stock now trading on 24x 2016 earnings, a 50% premium to its long-term average, we downgrade to hold and advise investors to take profits," it said, adding that in the absence of positive catalysts, it sees more downside risk.The brokerage said it upgraded forecasts and the target price in May, and again in early November but tough comparators lie ahead and trading conditions across the High Street are deteriorating.Liberum said first half sales were strong but scope for positive surprises is limited.It noted that at the time of the H1 update on 5 November, momentum was strong heading into the Christmas trading period.However, Liberum said momentum can be a fickle thing and the brokerage sees evidence that it may have shifted in the past six weeks.In its report in early November, Liberum pointed out that competition was increasing and that there might be some excess inventory."We find that SuperGroup is having to deal with both. Promotions elsewhere on the High Street are deep, up to 60%; and we see promotional activity, both in store and on line at SuperGroup, not necessarily more than last year, but surprising given the strength of Q2 sales leading into the period.""Sales comparators get much tougher in H2 and with 75% of group profits to come from H2 as well we see little room for error."Liberum has a 1,500p price target on the stock.At 0940 GMT, shares were down 8.2% to 1,487p.
More News
31 Oct 2014 10:23
UPDATE 3-SuperGroup says no discounts as warm weather hits profit outlook
* Cuts profit guidance to 60-65 mln pounds * Q2 retail and wholesale sales hit by warm weather * Cautious outlook on warm autumn, sector promotions * Shares down as much as 12.5 pct (Writes through, adds details, quotes) By Neil Maidment LONDON, Oct 31 (Reuters) -
Read more31 Oct 2014 09:51
BUZZ-SuperGroup: profit warning
** UK fashion retailer SuperGroup slides to 4-1/2 month lows on a profit warning. ** Becomes latest retailer to see demand for winter clothing crimped by unusually warm autumn; Next cut its profit forecasts earlier in the week. ** SuperGroup down 8.3 pct, top FTSE 250 faller by some m
Read more31 Oct 2014 09:36
Friday broker round-up UPDATE
Afren: Deutsche Bank lowers target price from 110p to 105p, leaving its hold recommendation unaltered. Aviva: Barclays ups target price from 397p to 420p and reiterates its equal-weight rating. Barclays: Deutsche Bank lowers target price from 300p to 295p and leaves its buy recommendation. Country
Read more31 Oct 2014 09:34
31 Oct 2014 08:34
London open: RBS and IAG lead gains as UK stocks rise on BoJ stimulus
London's stock market jumped in early deals on Friday, trading at levels not seen since the start of the month, after Japan's central bank unexpectedly ramped up its monetary-easing plan in a bid to revive growth. Sentiment was also helped by some well-received third-quarter results from heavyweight
Read more31 Oct 2014 08:25
Situation certainly not super as profit guidance is lowered by SuperGroup
Shares in SuperGroup slumped on Friday morning after the clothing retailer, which owns the Superdry brand, cut its profit guidance. The group said the exceptionally warm weather had resulted in a "high degree of uncertainty" around the future performance of the autumn/winter range and consequently i
Read more31 Oct 2014 07:18
SuperGroup cuts profit outlook as warm weather bites again
LONDON, Oct 31 (Reuters) - SuperGroup, the British company behind the Superdry fashion brand, cut its full-year profit guidance on Friday, saying it had become the latest retailer to see demand for its winter wares fall victim to an unsually warm autumn. The company said it expected full-ye
Read more31 Oct 2014 06:19
30 Oct 2014 16:10
29 Oct 2014 15:42
FTSE 250 movers: Vedanta climbs on bauxite hopes
Diversified metals and mining major Vedanta Resources was higher after chairman Anil Agarwal said the problems with bauxite supplies to its Lanjigarh aluminium refinery in three or four month's time. "The state government has assured us that they are working on 2-3 alternative bauxite mines for our
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