Shares in the retail sector have fallen sharply in recent days
amid fears over the loss of sales in one of the most important trading weeks of the year. With the cold wave gripping the Christmas sales, it is not a surprise to see FashionUnited Top 100 Index falling, dragged by the largest European apparel quoted companies.
The international fashion index closed with a final loss 6.18 points, ending at 1265.7, dragged by Europe-based stocks such as German Triumph, British Ted baker, Next and Marks&Spencer or Austrian Wolford.
With orders in key markets such as the United States, western Europe and China believed to be stronger-than-expected lately, UBS is expecting Nike Inc. to beat the Street when it reports second quarter earnings on Tuesday. As published in international media, analyst Michael Binetti’s US90¢ earning per share forecast is two cents above of consensus, however he thinks analyst estimates are poised to rise, thereby creating a near-tern catalyst for Nike shares. UBS is targeting EPS of US$4.54 in fiscal 2011 versus US$4.40 for the Street and rates Nike a Buy with a US$100 price target.
Also in USA, Polo Ralph Lauren Corporation announced that its Board of Directors has declared a regular quarterly dividend of $0.10 per share. The dividend is payable on January 14, 2011 to shareholders of record at the close of business on December 31, 2010.
Good news for the casual apparel and footwear brand Buckle, as analysts at Zacks Investment Research upgraded its shares from a “neutral” rating to an “outperform” rating in a research note to clients and investors on Tuesday.
Among bottom losers Tuesday, American Eagle was trading down yesterday, after starting the trading session with a dramatic change of -5.16% from its previous day’s close. Currently, the company has a market capital of approximately $2.98B.