Europe Earnings: Sports Direct, Richemont, Carrefour, Home Retail, Ahold

Nigel Thomas
16 Jan, 2014
New York City

Sports Direct acquired 4.63% stake of Debenhams. Richemont revenues gained 3% to

[R]3:40 PM Frankfurt – Sports Direct acquired 4.63% stake of Debenhams. Richemont revenues gained 3% to €2.9 billion. Carrefour revenue slid 1.5% to €22 billion. Home Retail reported Argos sales jumped 4% to £1.8 billion and Homebase total sales increased 2%. Ahold revenue fell 1% to €7.5 billion.[/R]

In London trading, FTSE 100 index rose 0.1% or 3.79 to 6,824 and in Frankfurt the DAX index slid 0.1% or 8.39 to 9,725.

In Paris, CAC 40 index fell 0.2% or 9.28 to 4,322.79.

Sports Direct International Plc dropped 2.2% to 721 pence after the U.K.-based sports and leisure clothing retailer said it has acquired stake of 4.63% or 56.8 million shares in Debenhams Plc.

Compagnie Financiere Richemont SA fell 1.9% to 87.10 francs after the Switzerland-based luxury goods maker reported revenue in the third-quarter ending in December grew 2.8% to €2.94 billion from €2.86 billion a year ago.

Richemont said revenue in the quarter from Europe/Middle East an America climbed 7% and 6% respectively while revenue from Japan declined 13%.

Retail sales for the period jumped 7% but sales from wholesales dropped 2 from a year ago period.

Carrefour SA declined 3.5% to €27.30 after the France-based retailer reported total revenue in the fourth-quarter ending in December slid 1.5% to €22.2 billion. Total sales including petrol grew 2.2% to €26.2 billion from a year ago.

Total group sales for the year fell 1.2% to €84.3 billion, total group sales rose 1.5% to €100.2 billion a year earlier.

Home Retail Group Plc gained 1.6% to 204.20 pence after the U.K.-based general merchandise retailer said total sales at Argos jumped 3.6% to £1.81 billion and comparable sales in the period climbed 3.8%. Internet sales surged 46% from a year ago.

Total sales at Homebase increased 2.3% to £464 million. Comparable sales in the period advanced 4.7%.

Koninklijke Ahold N.V dropped 3% to €12.76 after the Netherlands-based retail group stated revenue in the fourth-quarter ending in December fell 1.1% to €7.5 billion from €7.5 billion a year earlier and for the year slid 0.2% to €32.6 billion compared to €32.7 billion a year ago.