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Market Update

Europe Earnings: Domino’s, Sainsbury, KappAhl, Portugal Telecom, Tesco


Author: Nigel Thomas
ticker.com
Last Update: 11:02 AM ET October 02 2013

4:00 PM Frankfurt – Domino’s system sales soared 10% and online sales climbed 20% with orders through mobile phones soared 102%. Sainsbury said total sales climbed 5%. KappAhl net swung to profit as sales rose 2%. Portugal Telecom agreed to merge with Brazil-based Oi SA. Tesco profit declined 33.6% to £820 million.

In London trading, FTSE 100 index dropped 0.7% or 43.69 to 6,416 and in Frankfurt the DAX index slumped 0.6% or 50.28 to 8,639.

In Paris, CAC 40 index declined 0.8% or 33.29 to 4,163.

Domino’s Pizza Group Plc jumped 3.8% to 611.50 pence after the pizza delivery reported system sales in the third quarter ending on September 29 soared 10.4% to £140.9 million from £127.6 million a year ago period.

Same-store-sales for the quarter increased 4% from 3.7% a year earlier. Total online sales for the period climbed 19.8% to £72.3 million.

Sales through smart phones soared 102.5% and accounted 29.3% of total online sales.

J Sainsbury Plc slipped 1.2% to 385.60 pence after the UK based grocery retailer said total sales in the second quarter ending in September climbed 5% and excluding fuel rose 4.6%.

Justin King, Chief Executive, said ""our groceries online business grew by above 15% in the quarter and is now worth over £1 billion in annual sales.”

KappAhl AB declined 8.4% to 39.40 kronor after the Sweden-based apparel and accessory retailer stated net sales in the fourth-quarter rose 1.8% to 1.15 billion kronor compared to 1.13 billion kronor a year earlier.

Net for the quarter swung to a profit 7 million kronor compared to a loss of 40 million kronor and earnings per share swung to 9 kronor from a loss of 82 kronor.

The retailer added operating profit for the quarter jumped 48.3% to 43 million kronor and gross margin was flat.

The company added net sales for the year increased 3.6% to 4.75 billion kronor and net for the year swung to a profit 91 million kronor from a loss of 224 million kronor.

Portugal Telecom SGPS SA surged 7.5% to €3.66 after the Portugal-based telecom operator agreed to merge with Brazilian affiliate Oi SA to form a new Brazil-based company with more than 100 million subscribers.

The merger is expected to close in the first half of 2014.

Tesco Plc dropped 2.1% to 351.75 after the UK based food retailer reported group sales in the first-half ending grew 2% to £31.91 billion from £31.31 billion a year ago.

Profit for the period declined 33.6% to £820 million compared to £1,235 million and diluted earnings per share slumped 34% to 10.15 pence from 15.38 pence a year earlier.

Tesco said profit-before-tax for the period dropped 22.7% to £1.39 billion and gross profit slipped 1.6% to £2.34 billion. Tesco Bank trading profit for the first-half plunged 6.4% to £88 million.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc