Givaudan, LVMH Sales Jump; BAE to Cut 1,900 Jobs

Sarla Buch
10 Oct, 2017
New York City

BAE Systems said it plans to reduce more than estimated 1,900 Jobs. Domino''s Pizza surged on strong third-quarter sales. Easyhotel revenues surged 39%. Givaudan revenues jumped 4%. LVMH beats estimate. Nisa agreed to be acquired by Co-op Group.

[R]4:00 PM Frankfurt – BAE Systems said it plans to reduce more than estimated 1,900 Jobs. Domino''s Pizza surged on strong third-quarter sales. Easyhotel revenues surged 39%. Givaudan revenues jumped 4%. LVMH beats estimate. Nisa agreed to be acquired by Co-op Group.[/R]

In London trading, FTSE 100 index increased 22.84 or 0.3% to 7,530.69 and in Frankfurt the DAX index slipped 60.94 or 0.5% to 12,915.97.

In Paris, CAC 40 index fell 10.63 or 0.2% to 5,355.76.

BAE Systems Plc fell 0.4% to 616.33 pence after the U.K.-based defense, aerospace and security products maker forecasted fiscal year underlying earnings per share to increase between 5% and 10% from the reported underlying earnings per share of 40.3 pence in fiscal 2016 and net debt fell slightly from December 2016.

The defense and aerospace products maker said it will reduce 1,900 jobs in the UK, higher than previously expected 1,000.

Domino''s Pizza Group Plc surged 10.2% to 333.20 pence after the U.K.-based pizza delivery chain said group system sales in the third-quarter ending on September 24 soared 20.8% to £286.4 million and comparable store sales jumped 8.1%.

U.K. online orders sales advanced 17.4% and U.K. system sales up 11.6%.

Domino''s forecasted fiscal 2017 capital expenditure in the range of £50 million to £60 million.

Easyhotel Plc jumped 5.2% to 93.11 pence after the U.K.-based hotel operator said total sales in the year ending in September surged 39% from a year ago to £29.7 million and revenue in owned hotels soared 13.7% and in franchised hotels advanced by 8.6%.

Givaudan SA increased 3.3% to 2,161 Swiss francs after Switzerland-based fragrance and flavors maker reported sales in the nine-months ending in September increased 3.5% from a year ago to 3.8 billion francs.

Givaudan said sales in fragrance division advanced 2.2% to 1.7 billion francs and sales in the flavors division jumped 4.7% to 2.1 billion francs.

The fragrance and flavors maker reaffirmed fiscal 2020 targets with profitable growth.

LVMH Moet Hennessy Louis Vuitton SE advanced 2% to €236.85 after France-based luxury goods maker and retailer reported total revenues in the nine-months ending in September jumped 14% from a year ago to €30.1 billion.

Revenues in fashion and leather goods business surged 21%, in perfumes and cosmetics segment soared 14%, in watch and jewelry jumped 12% and in wines and spirits revenues increased 7%.

[Nisa, the U.K.-based convenience stores operator agreed to be acquired by the Co-operative Group for about £143 million, including its 3,200 stores across the U.K.

""While business made significant strides in recent years, we firmly believe that the combination with the Co-op is in the best interests of our members,” said chairman of Nisa Peter Hartley.

“We believe we have presented a compelling offer for Nisa members,” said chief executive officer of food the Co-op Jo Whitfield.