zondag 10 november 2013

Puma Cuts Forecast FY Earnings; Adidas Up

Puma Cuts Forecast FY Earnings; Adidas Up Puma, Europe’s 2nd-largest sporting-goods maker, lowered its full-year profit forecast, saying it will book one-time charges of about €130 million this quarter. The costs relate to the closing of a product development center in Vietnam and the transfer of international product teams to Herzogenaurach, Germany where the company is based, from London, Puma said in a statement Earnings for the year will be positive but significantly below those of 2012, said Puma, Previously, rival Adidas forecasted rising profits. Puma, which is closing stores, eliminating jobs and cutting product ranges to combat declining footwear sales, also reported Q3 earnings that missed estimates. Puma is still in a difficult transformation process. The shares are being supported by speculation that controlling shareholder Kering may seek a full takeover Q3 earnings before interest, tax and special items fell to € 80 million from €99 million a year earlier, trailing estimates of about € 81.5 million. A 1.4% decline in currency adjusted sales is in line with full-year guidance Currently Kering owns about 84% of Puma. The French company has been buying Puma shares bit by bit when they were available on the market Adidas reported a bigger gain in Q3 profitability than analysts had estimated and said the build-up to the 2014 World Cup in Brazil will start boosting revenue this quarter. Read more: and http://www.bloomberg.com/news/2013-11-08/puma-cuts-full-year-earnings-forecast-on-impairment-charges-1-.html

maandag 4 november 2013

Investment Bank Rothschild to advise on Poundland’s flotation

Investment Bank Rothschild to advise on Poundland’s flotation
Retailer Poundland has lined up Rothschild to advise on its upcoming public offering, which is expected to value the firm at more than £700m. The investment bank, which declined to comment on the issue, is expected to bring in other advisers to work on the flotation in the next few weeks. The group is looking to double its British stores to more than 1,000 and expand in Europe, giving it a growth story to sell ahead of a stock market listing. The group opened 69 new stores in Britain and Ireland in 2012-13 and plans 50 new stores in 2013-14, having already opened 30. Stronger equity markets have helped revive new listings in Europe this year. Investors have clamoured to tap into the discount chain sector in recent times, as recession-stricken shoppers gravitate towards bargain purchases. Poundland, which was bought by private equity firm Warburg Pincus for £200m in 2010, posted record sales last year of £880m. Poundland and Warburg Pincus both declined to comment on their strategy yesterday. Poundland was founded as a single store in Staffordshire in 1990. See more at Learn more: http://youtu.be/1Lz_DYDyQIc and http://www.cityam.com/article/1383542635/rothschild-advise-poundland-s-flotation #marketing #fanpower #privateequity #venturecapital #Funding #IPO #Tech #Newmedia #youngandminted #CEO #Startups #EDM #DJ #Seedcapital #entertainment #ADE13