M and S Marks and Spencer announced in Nov 17 it is to close 60 stores .........today it increased that figure to 100 stores ...SAGE
....from ADVFN news feed .... Given Amazon's challenges in Europe's apparel market, some think it could try to repeat its success of buying scale and a site with a fashion focus through a deal in Europe. Amazon declined to comment on potential deals.Euromonitor's Ms. Le Rolland said she thought a purchase was a possibility. Amazon is cash-rich, and an acquisition would be "quite a big shortcut as opposed to building something out," she said.Write to Jeannette Neumann at email@example.com and Laura Stevens at firstname.lastname@example.org (END) Dow Jones NewswiresApril 30, 2018 05:44 ET (09:44 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.SAGE
Results ..... RNS Just like Boohoo in September, results out, which on the face of it sound reasonable at first....... then big share price drop....What are the issues in this set of data and comments ? SAGE
Portfoilo managers view on P/E ..... This is a portfolio managers view on Tencent......" The company's sheer size has prompted caution among some investors. Eric Moffett, a portfolio manager for T. Rowe Price in Hong Kong, said his fund has owned shares since he started managing it in 2014.But the fund has underweighted Tencent for the past six months due to valuation concerns, he said. He said shares, trading at 40 times projected earnings, look "priced for perfection" -- which can prompt sharp pullbacks, like that seen last week. "...if you take this forward to ASOS P/E ........ what then ? ......SAGE
CFO leaves Does anyone think this will impact the share price in the medium term?
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ASOS (LON:ASC, 5,759.00p) BuyASOS, a global online fashion retailer, yesterday provided its trading update for the 4 months ended 30 June 2017. During the period, Group revenues advanced by +32% to £675.8m, while it increased by +26% on a constant exchange rate basis (CE, against the comparative period (4 months ended 30 June 2016). On a reported basis, total retail sales rose by +32% (CE: +26%) to £660.1m, comprised of +16% growth in the UK to £234.6m and +44% (CE: +32%) growth in international to £425.5m. Within international retail sales, US saw +38% (CE: +26%) growth to £94.4m, EU rose +41% (CE: +30%) to £196.6m, while Rest of World (ROW recorded +54% (CE: +41%) growth to £134.5m. Retail gross margin during the period remained flat against last year. On the operational front, the Group said Phase 1 transition of its warehouse site from Eurohub 1 to Eurohub 2 is operational, while Phase 2 underway. ASOSs CEO, Nick Beighton, commented This good performance has been underpinned by advances across all areas of our business including retail, technology, warehousing, delivery solutions and customer care. We remain on track and confident of meeting market expectations . The Group is scheduled to release its full year results on 17 October 2017.Our View: ASOSs performance continued to be strong for the first 10 months of the FY2017, with solid growth across all regions. Combined with strong constant currency results, its figures were boosted by the weaker Sterling against other currencies. Although UK sales year-to-date has slightly dipped to +17% from +18% seen for the first 6 months, continued strong international sales and maintained overall margin was encouraging. Looking down the KPIs, the Group has expanded its number of active customers by +25% year-on-year, with both average basket value and average order frequency improved by +3% and +6%, respectively. Total order rose by +28% year-on-year to 16.9 million, implying conversion rate improvement of +0.1%. Looking ahead, given the strong performance year-to-date, the Group said it expect to deliver its full year reported sales growth at the upper end of the +30% to +35% range, with capex remained unchanged at £150m to £170m. This leads to while pre-tax profit expected to be in line with consensus analysts forecast of £79.4m, which locates them a touch above the mid-point of previous indication of between £72m to £84.5m. Meanwhile, the Groups medium-term reported sales growth guidance was reiterated at c.+20% to c.+25% per annum. Given pre-tax profit remain in line with market expectations, Beaufort reiterate its Buy rating on the share.
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