Friday, September 24

Titles in action: DavidsTea, LVMH, Inditex

Here is a selection of announcements that have made (or will make) move the prices of these companies:

(Come back and read us from time to time
so as not to miss an update)

The co-founder of Thés DavidsTea (DTEA, US $ 3.30) announced on Tuesday that he would be stepping down on the tea merchant’s board of directors, but the team will still be able to count on his family support as he will be replaced by his wife, Former CEO of clothing retailer Le Château. The Montreal-based company said its main investor, Herschel Segal, had resigned as chairman of the board and was replaced by Jane Silverstone Segal. Their daughter Sarah, who is the CEO of the company, also joins the board of directors. DavidsTea Teas posted a sharp increase in net profit on Tuesday, despite a 19% decrease in sales. DavidsTea reported a net profit of $ 75.5 million, or $ 2.75 per share, for its second quarter, which compared to a profit of $ 2.61 million, or 10 cents per share, for the same period last year. However, excluding non-recurring items, the adjusted loss for the most recent quarter was $ 2.02 million, or 7 cents per share, compared with a loss of $ 1.72 million, or 6 cents per share, at the time of the same quarter of 2020. Revenue for the quarter ended July 31 was $ 18.7 million, down from $ 23 million for the same period a year earlier.

The luxury group LVMH (MC.PA, € 623.90) announced on Wednesday the appointment of Japanese stylist Nigo as artistic director of the Kenzo house, replacing Felipe Oliveira Baptista who left office in June. Kenzo, a house belonging to LVMH and founded in 1970 by the Japanese Kenzo Takada, who died of COVID-19 last October, announced in the spring that his contract with Portuguese designer Felipe Oliveira Baptista would end in June. Bernard Arnault’s group announced in a press release on Wednesday the appointment of Nigo at the head of the creation of Kenzo from September 20. Stylist Nigo, whose real name is Tomoaki Nagao, is famous in the streetwear world thanks in particular to his label A Bathing Ape. He launched his own clothing brand in Tokyo in 1993 and has since signed numerous collaborations with big names in fashion, notably in 2020 a capsule collection with Virgil Abloh, artistic director of the men’s collections of Louis Vuitton, flagship brand of LVMH. .

The Spanish clothing giant Inditex (ITX.MC, € 29.72), owner of Zara, posted a strong rebound in profit and turnover in the first half of its staggered financial year, thanks to a recovery in sales, driven by the restart of the ‘economy. Over the first six months of its financial year, which runs from February 1 to July 31, the Spanish group recorded a net profit of 1.272 billion euros, against a loss of 195 million euros over the same period a year ago. The turnover of the textile group reached 11.936 billion euros, up 49% over one year, thanks to the return of customers in the shops and a strong increase in online sales. Inditex does not detail its net profit for the second quarter, but a comparison with the result published for the first three months of the year allows it to be estimated at 851 million euros. This figure is slightly lower than the forecasts of analysts polled by the financial information provider Factset, who expected an average of 906 million euros. The group had plunged into the red in the first half of 2020, for the first time in nearly twenty years, after having had to close nearly 90% of its stores worldwide due to COVID-19.



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