February 8, 2011

SuperGroup firms on acquisition

Shares in fashion retailer SuperGroup gain 4.4 percent after the firm buys its Benelux and France franchise and distribution partner, CNC Collections, a move which Seymour Pierce says will be "significantly enhancing to earnings".

SuperGroup's brand Superdry

SuperGroup, the company behind the Superdry brand, says it will pay up to 40 million euros ($55 million) for CNC, in a deal which should accelerate its international franchise roll out and enable it to operate owned larger-format stores in key locations across Europe.

Seymour Pierce lifts its 2011/2012 pretax profit forecast to 66.5 million pounds from 60 million pounds, taking EPS up by 8 percent to 63.4 pence from 58.5 pence.

"Following the upgrade, the stock is rated at 24.1 times 2011/2012 earnings and still looks undervalued relative to earnings growth forecast and peer ASOS," the broker says in a note.

Separately, Atif Latif of Guardian Stockbrokers calls the deal a "sound strategic acquisition."

archives SuperGroup

5/21/12
Seymour Pierce cuts UK general retail sector
...ASOS and SuperGroup, and mother and baby products retailer Mothercare are among those who are likely to see a negative earnings impact from their exposure to Europe, said the analyst. The European retail sector...
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5/10/12
SuperGroup sales growth slows
...SuperGroup, the company behind the Superdry fashion brand, posted a slowdown in sales growth in its fourth quarter, blaming the tough retail environment.
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4/20/12
SuperGroup warns on profit as gets maths wrong
...SuperGroup, the British company behind the Superdry fashion brand, warned on year profit again, this time blaming "arithmetic errors" and timing issues in its wholesale business as well as lower margins...
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3/23/12
Supergroup strengthens its management team
...Supergroup has recruited Habitat’s former COO Shaun Wills as Administrative and Financial Director as well Suzanne Given from John Lewis as COO.
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2/8/12
SuperGroup sales growth slows in January
...SuperGroup, the British company behind the Superdry fashion brand, forecast year profit towards the lower end of market expectations after sales growth at its stores slowed in January.
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1/23/12
Factbox - How retailers fared over Christmas
...December 31.SuperGroup FashionLike-for-like sales up 5.8 pct in 9 weeks to January 1.Ted Baker ClothingRetail sales up 15.7 pct in 8 weeks to January 7.Thorntons ConfectionStore like-for-like sales fell 4.2 pct in...
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1/11/12
Sainsbury's says wins UK Xmas grocery battle
...retailer SuperGroup said it had a good festive season too. Other groups, particularly those more directly exposed to competition from online retailers and ever-expanding supermarkets, are having a much tougher...
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1/11/12
No Christmas discounts pays off for SuperGroup
...SuperGroup, the British company behind the Superdry fashion brand, said a sharp rise in underlying sales growth at stores in the run-up to the festive period vindicated its decision not to discount before Christmas.
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12/15/11
FTSE 100 falls, retailers under pressure
...run. SuperGroup, easily the top riser on Britain's FTSE 250 index, up 8.5 percent, after the fashion retailer unveiled first-half results which Seymour Pierce said were in line with expectations, prompting...
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12/14/11
SuperGroup eyes Regent Street "game changer"
...SuperGroup, the British company behind the Superdry fashion brand, reckons the opening of a new flagship store on London's Regent Street will revive the firm's fortunes after a tough first-half that saw...
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11/10/11
SuperGroup profit hit by warehouse issue
...retailer SuperGroup said full-year profit would be hit by problems with a new warehouse management system that has left its shops short of its trademark T-shirts, hooded tops and check shirts.
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10/11/11
N Brown says trade volatile as markets tumble
...retailer SuperGroup However, White is hopeful the consumer environment will improve in 2012. "My expectation is even if things don't start getting better then they should stop getting worse," he...
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10/9/11
Supergroup suffers loss due to warehouse system upgrade problem
...When Supergroup implemented an upgrade programme in August to the warehouse management system at its Barnwood site, the group experienced some short-term problems which are expected to have a negative impact of...
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10/9/11
John Lewis sales wilt in Indian summer
...retailer SuperGroup The week has also seen homewares chain Dunelm , chocolatier Thorntons and bicycles to car parts retailer Halfords report declines in underlying sales. UK consumers' disposable incomes are...
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9/7/11
SuperGroup sales growth picks up
...retailer SuperGroup said sales growth accelerated in its first quarter after stalling in the spring and that it was "excited" about its future prospects.
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7/13/11
Fashion retailer Supergroup's profits leap
...retailer SuperGroup posted an 89 percent rise in annual profits and saw room for further growth this year.
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7/8/11
M&S seen beating retail gloom with sales rise
...retailer SuperGroup (Wednesday), and Primark owner AB Foods, internet fashion retailer ASOS, sports retailer Sports Direct and mother and baby goods retailer Mothercare.
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7/5/11
SuperGroup announces flagship projects in Europe
...y. Supergroup demonstrates its stability to analysts In order to fight against this idea that the company is more of a “flash in the pan”, SuperGroup's CEO, Julian Dunkerton, affirmed the group’s ambitions...
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6/20/11
SuperGroup says growth has picked up recently
...retailer SuperGroup has seen a marked improvement in trading over the past three weeks and is sticking by its expansion plans, it said on Monday, as it seeks to calm nerves after a plunge in its shares.
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5/12/11
SuperGroup Q4 sales up 61 pct
...SuperGroup, the British company behind the fast-expanding Superdry fashion brand, posted a 61 percent rise in fourth-quarter sales, though its phenomenal rate of growth slowed a little.
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