Latest news with #Investec
Wales Online
6 hours ago
- Business
- Wales Online
Dr Martens boss to unveil new strategy to return to growth
Dr Martens boss to unveil new strategy to return to growth Shares in the firm have tumbled by more than 80% since it floated on London's stock market in early 2021 Dr Martens boots (Image: PA Media ) The new boss of Dr Martens is to reveal his strategy to get the bootmaker back on track amid a slump in sales. The Camden-based footwear specialist will reveal its latest annual results on Thursday June 5, and is expected to post a drop in revenues and profits. However, investors are likely to focus on a strategy update from the company which is also due that day. Shares in the firm have tumbled by more than 80% since it floated on London's stock market in early 2021. The company has been blighted by sliding sales in recent years as it has fought waning consumer demand and supply chain disruptions. Ije Nwokorie, a former brand chief of the business, took over the top role in January in a bid to help revive its fortunes. This week the company also sought to strengthen its leadership team by appointing Carla Murphy from Adidas as its new chief brand officer and former Nike director Paul Zadof as its Americas president. The appointments come as Dr Martens seeks to bring more shoppers back to the brand and target new growth opportunities. Investec analyst Kate Calvert said: "Having taken over as CEO in January and knowing the company well (previously chief brand officer and a non-executive director), we expect more of an evolutionary strategy. "We are looking to hear what the team's growth priorities are from a range, market and channel perspective, and understand the differences in strategic approach to recent history. "We also expect an update on the delivery of two crucial system projects – its customer data platform plus a supply and demand planning system." Investec has forecast that the fashion firm will report revenues of roughly £803.5 million for the year to March 31. It would represent another significant drop from £877.1 million the previous year. In its previous update in January, Dr Martens pointed towards a partial recovery over the key festive period amid progress to turn around its US operation. On Thursday, the company is likely to show further progress with its direct-to-consumer business, efforts to increase cost savings and strengthening its balance sheet. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Dr Martens is expected to deliver more evidence that it is pulling itself up by its bootstraps and the turnaround is lacing together. "It's been reducing inventories and debt, preserving cash and stabilising the business overall. "So there is more optimism around that Dr Martens can kick off a more sustained recovery." Article continues below Shareholders will also be looking for guidance on how its important US business might be impacted by recent tariff rule changes and how the firm might mitigate any impact.
Business Insider
a day ago
- Business
- Business Insider
Investec Reaffirms Their Hold Rating on Samvardhana Motherson International Limited (MOTHERSON)
Investec analyst Aditya Jhawar maintained a Hold rating on Samvardhana Motherson International Limited (MOTHERSON – Research Report) today and set a price target of INR140.00. The company's shares closed yesterday at INR153.12. Confident Investing Starts Here: According to TipRanks, Jhawar is a 3-star analyst with an average return of 5.9% and a 77.27% success rate. Jhawar covers the Consumer Cyclical sector, focusing on stocks such as Tata Motors Limited, Bajaj Auto Limited, and Eicher Motors Limited. Currently, the analyst consensus on Samvardhana Motherson International Limited is a Moderate Buy with an average price target of INR154.67. Based on Samvardhana Motherson International Limited's latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of INR276.68 billion and a net profit of INR8.8 billion. In comparison, last year the company earned a revenue of INR232.94 billion and had a net profit of INR2.02 billion
Irish Examiner
2 days ago
- Business
- Irish Examiner
New boss at Dr Martens planning sales reboot
The new boss of Dr Martens is to reveal his strategy to get the bootmaker back on track amid a slump in sales. The Camden-based footwear specialist will reveal its latest annual results next Thursday, and is expected to post a drop in revenues and profits. However, investors are likely to focus on a strategy update from the company which is also due that day. Shares in the firm have tumbled by more than 80% since it floated on London's stock market in early 2021. The company has been blighted by sliding sales in recent years as it has fought waning consumer demand and supply chain disruptions. Ije Nwokorie, a former brand chief of the business, took over the top role in January in a bid to help revive its fortunes. This week the company also sought to strengthen its leadership team by appointing Carla Murphy from Adidas as its new chief brand officer and former Nike director Paul Zadof as its Americas president. The appointments come as Dr Martens seeks to bring more shoppers back to the brand and target new growth opportunities. Investec analyst Kate Calvert said: "Having taken over as CEO in January and knowing the company well (previously chief brand officer and a non-executive director), we expect more of an evolutionary strategy. "We are looking to hear what the team's growth priorities are from a range, market and channel perspective, and understand the differences in strategic approach to recent history. "We also expect an update on the delivery of two crucial system projects - its customer data platform plus a supply and demand planning system." Investec has forecast that the fashion firm will report revenues of roughly £803.5m (€953m) for the year to March 31. It would represent another significant drop from £877.1m (€1.04bn) the previous year. In its previous update in January, Dr Martens pointed towards a partial recovery over the key festive period amid progress to turn around its US operation. On Thursday, the company is likely to show further progress with its direct-to-consumer business, efforts to increase cost savings and strengthening its balance sheet. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: "Dr Martens is expected to deliver more evidence that it is pulling itself up by its bootstraps and the turnaround is lacing together. "It's been reducing inventories and debt, preserving cash and stabilising the business overall. "So there is more optimism around that Dr Martens can kick off a more sustained recovery." Shareholders will also be looking for guidance on how its important US business might be impacted by recent tariff rule changes and how the firm might mitigate any impact.
Yahoo
2 days ago
- Business
- Yahoo
Dr Martens boss to unveil new strategy to return to growth
The new boss of Dr Martens is to reveal his strategy to get the bootmaker back on track amid a slump in sales. The Camden-based footwear specialist will reveal its latest annual results on Thursday June 5, and is expected to post a drop in revenues and profits. However, investors are likely to focus on a strategy update from the company which is also due that day. Shares in the firm have tumbled by more than 80% since it floated on London's stock market in early 2021. The company has been blighted by sliding sales in recent years as it has fought waning consumer demand and supply chain disruptions. Ije Nwokorie, a former brand chief of the business, took over the top role in January in a bid to help revive its fortunes. This week the company also sought to strengthen its leadership team by appointing Carla Murphy from Adidas as its new chief brand officer and former Nike director Paul Zadof as its Americas president. The appointments come as Dr Martens seeks to bring more shoppers back to the brand and target new growth opportunities. Investec analyst Kate Calvert said: 'Having taken over as CEO in January and knowing the company well (previously chief brand officer and a non-executive director), we expect more of an evolutionary strategy. 'We are looking to hear what the team's growth priorities are from a range, market and channel perspective, and understand the differences in strategic approach to recent history. 'We also expect an update on the delivery of two crucial system projects – its customer data platform plus a supply and demand planning system.' Investec has forecast that the fashion firm will report revenues of roughly £803.5 million for the year to March 31. It would represent another significant drop from £877.1 million the previous year. In its previous update in January, Dr Martens pointed towards a partial recovery over the key festive period amid progress to turn around its US operation. On Thursday, the company is likely to show further progress with its direct-to-consumer business, efforts to increase cost savings and strengthening its balance sheet. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: 'Dr Martens is expected to deliver more evidence that it is pulling itself up by its bootstraps and the turnaround is lacing together. 'It's been reducing inventories and debt, preserving cash and stabilising the business overall. 'So there is more optimism around that Dr Martens can kick off a more sustained recovery.' Shareholders will also be looking for guidance on how its important US business might be impacted by recent tariff rule changes and how the firm might mitigate any impact. Sign in to access your portfolio
The Citizen
3 days ago
- Business
- The Citizen
Surprise that all MPC members were in favour of repo rate cut
Economists say they agree with the decision to cut the repo rate by 25 basis points, but only expect one more this year. After the MPC had a hawkish stance in the past few repo rate decisions, economists thought that another cut would not be on the cards today. But after inflation for April was still below 3%, they started to wonder if a cut could indeed happen. Tertia Jacobs, treasury economist and fixed income specialist at Investec, says the surprise was not the 25 basis points cut, but the fact that the governor of the South African Reserve Bank (Sarb), Lesetja Kganyago, was in favour of a 50 basis point rate cut. 'We would have concurred with the 50-basis point rate cut because we see that the Sarb is behind in the rate cutting cycle. It was interesting that there was a lot of time spent on discussing a lower inflation target. The Sarb really pushed hard for the lower target, but the governor said they need the buy-in from Treasury.' ALSO READ: Reserve Bank cuts repo rate thanks to lower inflation, stronger rand Unanimous decision to cut repo rate Jee-A van der Linde, senior economist at Oxford Economics Africa, points out that five members of the Monetary Policy Committee voted for a 25 basis points cut, while one member preferred a larger cut of 50. 'Although our subjective odds shifted in favour of a 25 basis points cut, our forecast for this meeting indicated an unchanged policy rate, with voting patterns remaining tight due to the exceptionally uncertain external environment.' He says the latest repo rate cut suggests that the Sarb is comfortable with South Africa's inflation outlook, including potential upside risks to prices. 'Looking ahead, we forecast headline inflation will consistently average above 3% from the second half of 2025, trending gradually higher over the near term. 'This suggests that monetary authorities will have their work cut out for them if they want inflation expectations to decrease from current levels (4.3% in 2025 and 4.6% in 2026) to 3%. The Sarb said it will consider scenarios with a 3% objective at future MPC meetings.' ALSO READ: Repo rate cut offers no shelter from Budget 3.0 fallout for consumers It was the right decision – economist Prof Raymond Parsons, economist at the NWU Business School, says he believes the MPC decision to resume its interest rate-easing cycle by reducing rates by another 25 basis points is the right one. 'It is a welcome recognition of the changed economic circumstances which have made this possible. 'The majority view of the MPC therefore recognised the other factors which made it both desirable and practical to further cut borrowing costs for business and consumers at this key juncture in South Africa's business cycle. 'At this stage even a small reduction in interest rates can have a big positive impact on the national economic mood and on confidence levels. Although it is recognised that monetary policy cannot do the heavy lifting in South Africa's growth performance, lower borrowing costs are nevertheless supportive of the country's incipient but weak economic recovery.' ALSO READ: Reserve Bank could cut repo rate on Thursday, but will it decide to? More positive inflation outlook can bring more repo rate cuts Harry Kellan, CEO of FNB, says the repo rate cut comes at a time when there is a more positive inflation outlook for the rest of the year, along with growing urgency to boost economic activity. He expects that the repo rate will be reduced once more this year. 'Interest rates and inflation must be viewed in a wider context. We saw a sharp decline in the FNB/BER consumer sentiment measure in the first quarter of 2025, driven largely by indications of a potential VAT hike which has been removed. 'While the VAT hike uncertainty has been resolved, the recent approved budget does continue to reflect continued fiscal pressures. Consumer sentiment is also impacted by the lower-than-expected inflation increases in house prices as noted in the FNB Property Barometer.' Mamello Matikinca-Ngwenya, chief economist at FNB, says the MPC's decision to cut the repo rate highlights a greater focus on domestic fundamentals. 'The outlook on interest rates will continue to reflect the risks. Should muted local inflation and expectations that the US Fed will resume its cutting cycle before year-end prevail, our current view that another 25 basis points cut is probable this year would be supported.' ALSO READ: Repo rate: Will Reserve Bank cut or err on side of caution? Low inflation and recovery in exchange rate to thank for repo rate cut Angelika Goliger, chief economist at EY Africa, says the decision to cut the repo rate was influenced by several factors, including South Africa's low inflation, a recovery in the exchange rate and declining fuel prices. 'Globally, the US Federal Reserve remains cautious due to uncertainties around government policies and their net effect on the economy, with only two rate cuts expected this year, starting in September. 'However, the outlook for US inflation has improved following yesterday's US Court for International Trade ruling that the reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA) by the Trump Administration are unlawful and subject to removal. By bringing more trade policy certainty, this could build a case for the US Fed to reduce rates sooner.'
