The Tipster | Chequered outlook for Burberry
CONCERNS over a slowing global economy have affected Burberry’s performance in Asia, a key growth market for the luxury retailer. The stock, down 36 per cent from its all-time highs in April, has come under further pressure after the World Bank reduced growth forecasts in Asia. Capital Spreads quotes a price of 1,011.4p-1,013.6p for Burberry.
Travis Perkins is likely to report a grim outlook when it gives its interim management statement on Friday. Combined with weak consumer confidence, the owner of Wickes is likely to be affected by poor weather over the summer, which will have impacted sales volumes. However, given recent drives to improve cost efficiency in its specialist merchandising business, traders will be looking for progress. Shares are up nearly 40 per cent this year and trade towards the top of their 52-week range. ETX Capital quotes a price of 1,080.38p-1,080.61p for Travis Perkins.
Ubiquitous high street baker Greggs issues an interim management statement on Thursday, and traders will be wondering whether the flagging fortunes revealed in the last update will show any signs of improvement. The heralded defeat of the “pasty tax” failed to have a significant impact in the summer. Shares have gained about 3 per cent this year, and are hovering in the middle of their 52-week range. GFT Markets quotes a price of 515p-517p for Greggs.
It appears that the country’s appetite for chocolate is returning. After a volatile year that has seen over 30 per cent wiped from its share price, investors are cautiously optimistic about sales growth from Thorntons. Spreadex quotes a price of 30.39p-31.61p for Thorntons.