Stocks in mind: Burberry owners could get a bloody nose from the shareholders’ meeting after a trading update
A tense week lies ahead at Burberry, with owners potentially getting a bloody nose at their annual meeting, followed by the release of a business update that’s best approached with low expectations.
Glass Lewis is advising shareholders to vote against the reappointment of Danone CEO Antoine de Saint-Afrique as director, warning he could be overwhelmed if the luxury goods giant hits a slump. .
Meanwhile, the PRC is urging investors to buck the salary report, pointing out that Burberry executives are paid 44 times more than the average employee.
Changing future: Burberry shares have already fallen this year
Analysts expect trade data released on Friday to show a more than 40 percent drop in sales in the first quarter due to economic conditions in China and the Covid lockdown.
Against this background, the stock has already fallen this year.
Hargreaves Lansdowne’s Sophie Lund-Yates warns a volatile outlook could continue to affect stocks.
Former NovaSite boss at Love Hemp
Graham Mullis, former CEO of Novasit, plays the chairman of Love Hemp, a troubled cannabis company whose stake in Aquis was suspended in May.
The Love Hemp management adviser resigned after an investor failed to complete a £1.2million investment in February – resulting in a suspension.
A replacement has not yet been found. Mullis was a little-known boss outside of biotechnology circles before the pandemic.
NovaSit’s rapid work to develop a test for Covid in 2020 has boosted its shares and taken it public.
But the AIM-listed company’s star has since faded and is now in a battle with the Department of Health and Social Care.
Greg watches the gas station market
As downtown sales plummet, Greggs is keeping an eye on the gas station market.
She opens her first store with the rapidly growing gas station operator Ascona.
Around 30 more are to follow in the next five years.
Greggs is Britain’s leading budget baker, but the FTSE250 group said in May it was suffering from a permanent shift towards “hybrid” works.
Ascona’s 59 locations in England and Wales serve 170,000 customers weekly.
Latest target for B&Q owner Kingfisher Hedge Fund
About 8.6 percent of the FTSE100 group’s shares are on loan to short sellers who are betting that the share price will fall.
This adds to the £420m position against the group, which used to be one of the “pandemic winners” who have been embroiled in hasty resale projects after being stuck at home and better able to work from their empty spaces during lockdown. expenditure of time.
Last week’s “teach-in” day had little impact for analysts and investors, with some short positions rising afterwards.
Small bets have also increased as the cost of living becomes more apparent and sales risk being hit.
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