LONDON (Reuters) - Discount style retailer Primark mentioned third-quarter like-for-like sales rose above the 5 percent level noticed in its first half assisted by superior weather and also the attractions of its low costs inside a downturn.Primark, owned by Linked British Foods (ABF.L), reported that third-quarter sales in the 16 weeks to June 20 rose 21 percent, after first-half sales had risen 18 percent, putting the raise at 20 percent for the 40 weeks to June 20.
AB Foods finance director John Bason declined to provide a third-quarter like-for-like figure, but analyst Graham Jones at home broker Panmure Grodon said as Goose Jackets new openings had slowed a bit the like-for-like growth was probably to be Youth Chiefs Jersey 7 to eight percent.
"We are hitting the appropriate spot with Doudoune Moncler the customer, trading has picked up and the weather has been good. Like-for-like sales have improved from the very first half," Bason said on Thursday 9 July in an interview just after NFL Jerseys a third-quarter trading update.
Primark, which accounts for nearly a third of group profit, has 190 stores in Britain, Ireland, Spain, Portugal, Germany and the Netherlands, and Bason said he hoped to add 10-plus new shops in its next financial year with its 1st a single likely to open in Belgium.
(Reporting by David Jones; Editing by Mark Potter)
NEW YORK, Feb 18 (Reuters) - Standard & Poor's on Wednesday cut its ratings on BCBG Max Azria Group to a deeply speculative grade and cited concerns that the fashion retail chain may trip its debt covenants and struggle to make a $20 million loan payment due in March."We are very concerned with BCBG's Canada Goose Jackets liquidity position," S&P said within a statement. The company had $20 million available in cash and its revolving credit line in early January, however it also has a $20 million loan payment due in March, S&P stated.
Declining sales at Max Rave, which BCBG acquired in 2006, is also most likely to push the subsidiary to break minimum earnings before interest, taxes, depreciation and amortization (EBITDA) terms in its loan agreements, S&P mentioned.
"We do not expect Max Rave to meet its minimum EBITDA covenant," S&P mentioned. "This Moncler Pas Cher does not constitute an immediate event of Cheap NFL Jerseys default but could prove distracting for management."
"The 2006 acquisition of the Max Rave business added to the company's business risk and it continues to underperform because of negative sales trends," S&P added.
S&P cut BCBG's ratings one step to "CCC-plus," seven steps below investment grade, and gave the company a negative outlook, indicating an additional downgrade may be likely over the subsequent one-to-two years.
"The ratings on BCBG reflect its participation in the highly competitive and fragmented apparel Finest Burberry Outlet For Burberry Outlet Online Handbags. retailing industry, weak performance by its Max Rave subsidiary, a very highly leveraged structure that Belstaff Jackets results in thin cash flow protection measures, and our expectation that the company is vulnerable to nonpayment of its obligations," S&P stated.
(Reporting by Karen Brettell; Editing by Diane Craft)
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