Finest Burberry Outlet For Burberry Outlet Online Handbags. LONDON, Sept 7 (Reuters) – Connected British Foods (ABF.L) nudged up its full-year earnings forecast on Monday 7 September due to a powerful overall performance at its Primark discount fashion chain and its sugar business enterprise.The London-based group, 55-percent-owned by the family of Chief Executive George Weston, mentioned it now expected “some progress” in adjusted earnings for the year ending Sept. 12, compared with its prior forecast for a flat outcome.
Sales at Primark stores open at least a year were set to rise 7 percent, it stated inside a statement, up from the five percent reported inside the very first half of its monetary year.
http://www.burberryoutletxm.com/ Nevertheless, furthermore, it mentioned gross profit margins in the 191-store-chain could be reduce as a result of a rise in import costs following a fall in the worth of sterling against the dollar.
Primark accounts for practically a third of group profit and has branched out from Britain to open shops in Ireland, Spain, Portugal, Germany and also the Netherlands.
Burberry Outlet Online Swedish rival Hennes & Mauritz (HMb.ST) reported a 3 percent drop in underlying sales in July on the same month last year, following a five percent decline in June. Europe’s biggest style retailer Inditex (ITX.MC) posts first-half results on Sept. 16.
AB Foods stated there would be a big rise in profits at its sugar and agriculture company as growth in Europe and South Africa more than offset losses in China.
The group, which markets Silver Spoon sugar, Twining tea and Ovaltine drinks, also said revenues and operating profit at its groceries division rose within the second half of its fiscal year.
Analysts currently expect AB Foods to make adjusted earnings per share of 55.3 pence, up from 54.9 pence the year before, according to the average of 19 polled by Reuters Estimates.
AB Foods shares have outperformed the DJ Stoxx European food stocks index .SX3P by 11 percent this year, as well as the retail stocks index .SXRP by 3 percent. They closed at 812 pence on Friday 4 September, valuing the group at 6.4 billion pounds ($10.five billion).
($1=.6123 Pound)
(Reporting by Mark Potter; editing by Kate Holton and Simon Jessop)
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FRANKFURT – The family owners of Schustermann & Borenstein have mandated Goldman Sachs to sell the German clothing exporter, two people close to the transaction mentioned on Friday, a move analysts expect to attract sturdy interest.Schustermann & Borenstein specialises in exporting clothing to eastern Europe and other non-EU countries. Separately, it sells surplus stock in so-called outlet centres.”Any company that is investing in distribution, especially to emerging markets will be attractive as clothing retailers are looking to sell overseas a lot more,” Isabel Cavill, analyst from Planet Retail mentioned.In 2010, Schustermann & Borenstein posted sales of 153 million euros ($194 million) and a net profit of 17 million.The company could attract private equity buyers, which may use it as an add-on to a clothing company already in their portfolio. In Germany, several fashion trading groups are in private equity hands, including Apax-owned retailer Takko and EQT-owned wholesaler CBR.In 2010, private equity co
mpany Alpha Group floated denim specialist Tom Tailor on the Frankfurt stock exchange. The investor remained in small fashion house Eterna.Upscale style house Hugo Boss is majority-owned by Permira, while U.S.-based private equity firm Sun Capital owns British retailers Jacques Vert and Alexon as well as jeans company Lee Cooper and Strauss Innovation.Strategic investors like Hong Kong-based exporter Li & Fung may also be interested in Schustermann & Borenstein, Cavill said.Li & Fung CEO Bruce Rockowitz told Reuters in an interview earlier this month that he saw very little growth in Europe over the next two years, although a bottoming out of the market in Britain, Germany and France could throw up acquisition opportunities for buyers in Asia.An exporter like Schustermann & Borenstein would also be more attractive than buying a retailer, as it is not burdened with cumbersome real estate assets, Cavill stated.For example, Metro, the world’s fourth-largest retailer, has long been seeking a buyer for its chain o
f Kaufhof department retailers.It put the sale on ice earlier this year as buyers could not raise enough funds for the deal, which Metro had valued at between 2 and 3 billion euros.Goldman Sachs declined to comment. Schustermann & Borenstein was not available to comment.
