Lojas talks bring Latam stocks into the limlight

Wednesday, 06 August 2014
Michael Kors and Coach were big news Tuesday as both luxury fashion retailers reported seasonal figures. Meanqhile, market eyes are set on Polo Ralph Lauren,that will publish its first-quarter results on Wednesday.

Ralph Lauren Corp. (RL), the luxury-apparel company, is set to announce financial and operational results for the first quarter of its 2015 fiscal year (1QFY15, ended June 30 2014) before the market opens on Wednesday. The company surpassed the Street’s estimates in the past quarter; however the guidance issued for the first quarter is below analysts’ expectations, highlighted several financial publications.

On a separate note, one of South African’s largest retailers, The Foschini Group (TFG) says it is looking to open five stores in Ghana by next March to add to the more than 1,700 stores it already runs across sub-Saharan Africa.

Chief executive Doug Murray also advanced that TFG, which recorded about 1.4 billion dollars in sales in the year to March 2014, was also looking to opening in the near future shops in Kenya, Mozambique and Angola as part of a four-year plan to more than double the number of its stores across Africa.

Latam stocks were also in the spotlight since Monday, when reports broke on a potential merge between Lojas Marisa and Lojas Renner. Shares of Lojas Marisa jumped 14 percent and Lojas Renner gained 3.5 percent, after the weekly magazine ‘Veja’ reported the fashion retailers were "in talks."

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