JD Sports stock reaffirmed despite weak resultsWednesday, 19 September 2012
Big news on Tuesday was JD Sports Fashion Plc, which
saw its first half of the year’s profit before tax decreased to 2.9 million pounds (4.71 million dollars) from 20.1 million pounds (32.6424 million dollars) last year.
Earnings per ordinary share were 2.74 pence (4.45 dollars) compared to 28.51 pence (46.28 dollars) prior year. Revenue increased to 556 million pounds (902.94 million dollars) from 439.8 million pounds (713.88 million dollars) prior year.
JD Sports Fashion‘s stock had its “buy” rating restated by equities researchers at Investec in a report issued on Tuesday. They currently have a 14.52 dollars target price on the stock. Separately, analysts at Singer Capital Markets upgraded shares of JD Sports Fashion to a “buy” rating in a research note to investors on Wednesday, September 5th. They now have a 12.54 dollars price target on the stock. Shares of JD Sports Fashion opened at 719.50 pounds on Tuesday.
Elsewhere, Christian Dior, part of the LVMH fashion group, saw its sales grow 28 percent in the first quarter ended July 31 to 323 million euros. Sidney Toledano, Dior’s CEO, said July and August were satisfactory months with “a very strong trend across all product categories.” Dior previously said revenues in the first half ended June 30 advanced 29 per cent to 573 million euros.
Also gains for Inditex, which stock closed in Madrid on Tuesday at 91.94 euros, up 0.6 percent from the previous close, on 1 million shares, and waiting for Wednesday, when it’s scheduled to report the results for the first semester of 2012.
Meanwhile, French Connection's shares, which have fallen 38 percent this year, closed at 25 pence on the London Stock Exchange on Tuesday. The British fashion chain will also present on Wednesday its figures for the first six months of 2012.