|Bid||6,908.00 x 0|
|Ask||6,908.00 x 0|
|Day's range||6,906.00 - 6,972.00|
|52-week range||4,696.00 - 7,358.00|
|Beta (5Y monthly)||0.65|
|PE ratio (TTM)||15.36|
|Earnings date||19 Mar 2020|
|Forward dividend & yield||1.68 (2.41%)|
|Ex-dividend date||05 Dec 2019|
|1y target est||5,337.47|
This top performing FTSE 100 (INDEXFTSE: UKX) stock has beaten the trend and had a great year, but the future is less certain.
Investing.com -- Here is a summary of the most important regulatory news releases from the London Stock Exchanges on Friday, 3rd January. Please refresh for updates.
Royston Wild talks about a rocketing Footsie share and its price prospects for the New Year. Should you buy in today?
(Bloomberg Opinion) -- Brits haven’t felt very much like shopping this year, and understandably so. There’s been political gridlock and upheaval, the repeated threat of a hard Brexit and an election in December for the first time since 1923. No wonder despite strong employment, and wage growth outpacing inflation, U.K. consumers have been acting as if they’re in a recession.As a result, Britain’s army of shoppers have been choosing more classic colors such as black, navy, gray and camel rather than trendy shades at high-street stalwart Marks & Spencer Group Plc. Families have put off buying new fridges and dishwashers until their old appliances broke down. And they’ve turned to discounters Aldi and Lidl when, in spite of it all, they wanted to start preparing for Christmas by filling their shopping carts with panettone and children’s toys. Even with a lift from the Black Friday frenzy, this has all added up to weak non-food sales, and sluggish demand at the big supermarkets.Against this background, the general election result can only be reassuring: a hard Brexit has likely been shelved and affluent shoppers can breathe a sigh of relief that they won’t face a Labour government led by Jeremy Corbyn. This should all bode well for trading over the coming weeks, the conclusion of the so-called Golden Quarter that captures the run up to the holidays and the merrymaking as well. There is now only one weekend left before Christmas. Last week was likely a slow one in malls and on high streets with the pending election and heavy rain. If the weather is good — cold crisp conditions are best — then shoppers could come out in force for last minute gifts.This upswing may come too late for some store groups. Black Friday sucked spending into November, so that may mean there is less pent-up demand to be released in December. Many consumers bought Christmas gifts when they were on special offer. Unless those deals generated sales that wouldn’t have happened anyway, the mark downs mean margins will have suffered.It’s a different story for supermarkets. Their peak period kicks off around now, and the days immediately before the holiday will be the biggest for food shopping. With Brits feeling slightly less nervous, they may be prepared to buy a nicer bottle of wine, or a pricey free-range turkey — or a vegan Wellington.The recovery in the pound should be helpful too. Retailers selling clothing, toys and electronics buy well over half of the stock they sell from suppliers in Asia, and pay for them in dollars. When sterling weakens, their input costs rise. As stores struggle to pass higher prices onto consumers, their margins get squeezed. A stronger pound should ease the pressure on profitability. What’s more, a large amount of capacity is coming out of the market, with the likes of M&S, Debenhams Plc and Philip Green’s Arcadia Group closing stores. Chains that have survived the tumultuous conditions should benefit.But even if shoppers do party like its 1999 — and that’s still debatable — retailers may not escape a New Year hangover.If Prime Minister Boris Johnson forces through his Brexit deal — which now looks increasingly likely — it is only the starting point for Britain’s withdrawal from the European Union, and negotiations for a comprehensive agreement with its largest trading partner. There’s also the toll that the uncertainty of the past three years has taken on an already fragile British economy. Businesses may have held back from investing, potentially storing up trouble for the future. And despite overall strong employment, there have been job losses. Consumers make the most drastic changes to their purchasing habits when they are made redundant or see their friends losing their jobs.So even a late surge won’t change the winners and losers this Christmas. Discount players such as Aldi and Lidl and Associated British Foods Plc’s Primark are still likely to be standout performers. Next Plc is doubling down on its strong online presence by selling other retailers’ brands, which should pay off. Bricks and mortar clothing retailers and department stores will be under pressure from both Amazon.com Inc. and specialist-fashion brands such as Boohoo Group Plc. Meanwhile, a revival over the next two weeks may not be enough to compensate for lackluster sales so far at Britain’s big supermarkets.The general election result should make this Christmas a little less dismal. But it won’t transform it from turkey into a cracker.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: Melissa Pozsgay at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Readers hoping to buy NEXT plc (LON:NXT) for its dividend will need to make their move shortly, as the stock is about...
British retailer Marks & Spencer has appointed the chief executive of rival Tesco's F&F Clothing division to be the boss of its struggling clothing and home business, it said on Friday. M&S, one of the best known names in British retail, said Richard Price, 52, would re-join the group as managing director, clothing & home next year.
A rally in pharmaceutical stocks led by industry giants GlaxoSmithKline and AstraZeneca helped the FTSE 100 outshine most global peers on Wednesday while investors waited for the outcome of the U.S. Federal Reserve's policy meeting. The FTSE 100 reversed early losses to close up 0.3%, with the pharma sub-index scaling an all-time high, up 2.5% after GSK again upgraded its 2019 targets. Moves on both indexes were however subdued with investors waiting for the Fed to announce its policy decision.
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
It said full price sales including interest income rose 2.0% in its third quarter to Oct. 26, slightly ahead of a forecast given in September. The group said it believed that strong sales in July pulled forward sales from August. "We believe the improved sales growth in October recouped some of the lost sales in September and we do not expect sales growth for the rest of the year to be as strong as October," it added.
British clothing retailer Next kept its profit guidance for the full 2019-20 year on Wednesday, as it reported third quarter sales growth slightly ahead of guidance given in September. Next, which trades from about 500 stores in the UK and Ireland, about 200 stores in 40 countries overseas and its Directory online business, said full price sales including interest income rose 2.0% in its third quarter to Oct. 26. The group said it believed that strong sales in July pulled forward sales from August.
Shares in London's UK-oriented businesses, such as housebuilders and retailers, could rocket to record highs if parliament approves the government's Brexit deal, investors say. British companies that earn most of their revenues at home have been shunned by investors more or less since the 2016 Brexit referendum, as more than three years of uncertainty damaged Britain's economic prospects. Sealing the deal now, however, could send the second-tier FTSE 250 index, a closely watched barometer of Brexit risk, surging around 5%, an informal poll of analysts by Reuters showed.
* Q3 retail sales growth slows to 3.1% from Q2 3.6% * Spending rising at weakest pace since Q2 2016 * Department stores report biggest fall in sales since 2009 (Adds reaction) By David Milliken and Jonathan Cable LONDON, Oct 17 (Reuters) - British shoppers grew more cautious about their spending in the three months to September despite rising wages, official figures showed on Thursday, raising concerns about the health of the economy in the run-up to Brexit. Consumer spending has been the biggest driver of British economic growth since June 2016's referendum to leave the European Union, but there have been increasing signs that this is starting to soften. Looking at the third quarter as a whole, which strips out monthly volatility, quarterly sales growth held steady at 0.6% while the annual pace of expansion dropped to 3.1% from 3.6% in the second quarter, the weakest since the late 2018.
The chief executive of Next has sold more than 10 million pounds ($12.7 million) worth of shares in the British clothing retailer to finance an investment in a private venture outside the retail industry, the company said on Tuesday. Simon Wolfson sold 153,000 shares for 66.05 pounds each, netting 10.12 million pounds, according to a stock exchange notification. Wolfson joined Next in 1991 and has been CEO since 2001.