The British retailer is clobbering the rest of the companies gathered within the FashionUnited Top 100
Index and bringing them down to the ground. Just 10 days after presenting a rose in revenues of 15% to £88.1m, Ted Baker’s shares have fallen with a loud crash and all their way down to the end of the indexed apparel companies, trading yesterday at 2.75 after hitting 629 on Monday.
With such a back to reality call, the FashionUnited Top 100 closed on Tuesday at 1193.81, down by 1.02. However, it was still ahead of the main international traded indexes but with the Hang Seng is catching up with the international quoted apparel index, as it scored 1188.19 points at the end of the trading session.
Since last week and as the FashionUnited Top 100 anticipated, luxury goods are showing that yet have something to say about the market’s going. Thus, while LVMH is in everybody’s mouth since last Thursday, when the luxury goods giant presented an astonishing profit hike, its shares went down by 2,4 points yesterday. But the owner of Luis Vuiton didn´t fall alone as it pulled with it other niche foes such as Christian Dior, which lost 1.6 points; Hermés International, dropping 1.4 points, or Richemont, with a final down of 0.57 points.
Other investors’ spoilt kids are going through tough times this week. It was the case of H&M and M&S, which tied on Tuesday, when they both missed 2.7 points.
Among those throwing positive results, some European values to be found: encouraged by Danish IC Companys, which added 1 point to its quote; Triumph gained 5 points. Also some increases were reported by Japanese companies, although they were not a surprise for investors.