85 731
Fashion Jobs
HENKEL
Senior Automation Tech
Permanent · GENEVA
ESSILORLUXOTTICA GROUP
Customer Service Representative
Permanent · EAST SYRACUSE
ESSILORLUXOTTICA GROUP
Customer Service Representative Classic Optical)
Permanent · YOUNGSTOWN
ESSILORLUXOTTICA GROUP
sr. Manager, Business Growth
Permanent · NEW YORK
ESSILORLUXOTTICA GROUP
Associate Manager, Trade Event Marketing
Permanent · DALLAS
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant
Permanent · PEMBROKE PINES
ESSILORLUXOTTICA GROUP
Oakley - Sales Supervisor
Permanent · CAMARILLO
ESSILORLUXOTTICA GROUP
Naasc - Material Handler II (Inbound Team Lead)
Permanent · MCDONOUGH
ESSILORLUXOTTICA GROUP
Oakley Store Market Manager- Denver Market
Permanent · DENVER
ESSILORLUXOTTICA GROUP
Oakley - Specialized Consultant (Denver)
Permanent · DENVER
ESSILORLUXOTTICA GROUP
Wholesale - Analyst, Supply Chain (Vendor Compliance)
Permanent · PORT WASHINGTON
ESSILORLUXOTTICA GROUP
Essilorluxottica Wholesale - Sales Representative
Permanent · RALEIGH
ESSILORLUXOTTICA GROUP
Wholesale - Coordinator- Sales Operations (Rep Orders)
Permanent · PORT WASHINGTON
AMRG
Sales Supervisor - Full Time
Permanent · ROSEMONT
WALGREENS
Overnight Call Center Representative - Pharmacy (Onsite)
Permanent · CHANDLER
WALGREENS
Onsite Call Center Representative - Pharmacy (Part Time)
Permanent · CHANDLER
WALGREENS
Onsite Call Center Representative - Pharmacy (Full Time)
Permanent · CHANDLER
WALGREENS
Senior Manager, Merchandise Planning
Permanent · DEERFIELD
WALGREENS
Digital Commerce Associate Manager, Merchandising
Permanent · DEERFIELD
WALGREENS
General Warehouse Person Pendergrass Rfc
Permanent · PENDERGRASS
CALERES
Associate Manager - Famous Footwear
Permanent · MANKATO
NORTH CAROLINA STATE
County Extension Director
Permanent · GOLDSBORO
By
Reuters
Published
May 21, 2012
Download
Download the article
Print
Text size

Seymour Pierce cuts UK general retail sector

By
Reuters
Published
May 21, 2012

U.K. retailers are likely to be hurt by a slowdown in orders from European markets and the difficult trading conditions, said Seymour Pierce as it downgraded the general retail sector to "underweight".


Photo: Corbis

Seymour downgraded Europe's biggest home improvements retailer, Kingfisher, to "hold" from "buy" citing weaker trading in its core markets, including France, UK, China and Poland.

The brokerage also cut its price target on Britain's second-biggest clothing retailer, Next, to 3,000 pence from 3,300 pence, and on the country's biggest household goods retailer, Home Retail, to 70 pence from 95 pence.

European retailers are struggling as disposable incomes are squeezed by rising prices, muted wages growth and government austerity measures, and shoppers fret over the implications of the euro zone debt crisis.

"Internet sales will continue to cannabalise store-based revenues and lead to a general softening in prices. Gross margins are expected to be flat at best in a competitive market and costs are still rising," analyst Freddie George wrote in a note to clients.

George slashed his earnings outlook for a number of retailers, including Home Retail and Marks and Spencer Group Plc , to reflect a more difficult UK trading environment.

British designer clothing brand Ted Baker, fashion retailers ASOS and SuperGroup, and mother and baby products retailer Mothercare are among those who are likely to see a negative earnings impact from their exposure to Europe, said the analyst.

The European retail sector index was up 0.01 percent at 234.04 points at 0840 GMT on Monday.

© Thomson Reuters 2024 All rights reserved.