Europe Earnings: Marks and Spencer, Next, National Express

Nigel Thomas
03 Jan, 2014
New York City

Marks and Spencer climbed after the retailer forecasted third-quarter sales to jump 2.6%. Next lifted its profit outlook on holiday sales were ahead of its estimate. National Express estimated annual sales to increase 10%.

[R]3:40 PM Frankfurt – Marks and Spencer climbed after the retailer forecasted third-quarter sales to jump 2.6%. Next lifted its profit outlook on holiday sales were ahead of its estimate. National Express estimated annual sales to increase 10%.[/R]

In London trading, FTSE 100 index rose 0.4% or 24.58 to 6,742 and in Frankfurt the DAX index gained 0.5% or 44.98 to 9,445.

In Paris, CAC 40 index increased 0.8% or 31.61 to 4,259.

Marks and Spencer Group Plc climbed 4.9% to 448.30 pence after the U.K.-based retailer forecasted sales in the third-quarter to jump 2.6%.

Next Plc surged 9% to 6,026.48 pence after the U.K.-based apparel and home products retailer lifted its yearly profit outlook as pre-Christmas sales were ahead of its estimate. Sales in the year to December 24 were up 5%.

The retailer said pretax-profit in the year ending in January are expected in the range of £684 million to £700 million from earlier guidance between £650 and £680 million.

The company will pay a special dividend of 50 pence per share in February.

National Express Group Plc rose 0.7% to 275.80 pence after the U.K.-based passenger transport services provider said overall trading remained positive, in-line with the recent trends, and revenue grew across all its businesses.

Total revenue for the year is expected to soar 10%. In the fourth quarter, core express coach revenue jumped 9% and for the year to climb 6%. In Morocco, revenue growth is estimated at 13% for the year.