Shares at the iconic fashion brand Burberry started Wednesday’s trade very much on the front foot following the publication of a trading update. This noted sales up a shade, but discounting was down and growth was also seen in younger demographics with the label’s popularity amongst generation Z customers in the Asia-Pacific region impressing. Full year forecasts have been reiterated and the Burberry share price is up 4% in early trade.
The pub operator Wetherspoon issued a trading update this morning. Whilst there was some cause for cheer in this, with total sales for the last six months up 5.3% and the Christmas period noting an 8.8% uplift against the comparative, markets have focused in on comments from the chairman. These highlight costs running higher than expected during the period, with the consequent effect that profits will take a hit with H1 numbers likely to come in below the comparative. If momentum is sustained, the full year outcome will be slightly lower than FY25. The Wetherspoon share price was off more than 7% shortly after the open.
The electrical retailer Currys issued a trading update today covering the 10 weeks to 10th January. This showed revenue growth up 6% and management expect that full year profits will now be 11% to 17% higher, putting it in line or above the previously guided target. The outcome here has clearly impressed the market and the Currys share price was trading up 6% by 8.30am.
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