Three things you need to know in the financial markets this morning from investment writer, Tony Cross.
Superdry [LON:SDRY] has published a trading update this morning, covering both black Friday and the Christmas shopping periods. The company continues to face headwinds, with weak trading on old product ranges serving to drag on performance. There’s also been a shortfall reported in wholesale business, although this is being attributed in part to timing issues and should at least in part right itself in full year results. Profit forecasts for the full year have however been trimmed to between £0 and £10m.
It’s not all bad news for retail however, with discount homewares chain B&M [LON:BME] publishing a trading update today. Group revenue is up 9.3% on the quarter with 15 new stores opened and a further 6 to come in the last three months of the trading year. The company does however caution that sales in the run up to Christmas were a bit slower than it had expected and news like that may knock some of the steam out of these latest gains. However, with management projecting a confident outlook for the year ahead, if we do see any downside pressure it could be difficult to justify in anything but the very shortest term.
Keeping with retail, JD Sports [LON:JD] has published their Christmas trading update today. Details are light but critically they expect full year profits to be at the upper end of market expectations. Success in overseas markets is being cited as having been especially encouraging, Full year numbers will be published in mid-April.