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Market Update

Summer Discounts Hurt H & M Profit, TUI Reaffirms Outlook

Author: Sarla Buch
Last Update: 11:40 AM EDT September 28 2017

4:00 PM Frankfurt – Borussia Dortmund net tumbled 72%. H & M profit dropped on summer discount and the retailer missed sales estimate. Imperial Brands estimated strong growth in revenues and profit in the year. TUI reaffirmed fiscal 2017 outlook. SSP said revenues in the fourth-quarter soared 15%.

In London trading, FTSE 100 index edged up 6.87 to 7,320.38 and in Frankfurt the DAX index increased 41.24 or 0.3% to 12,698.82.

In Paris, CAC 40 index rose 5.26 to 5,287.22.

Borussia Dortmund GmbH & Co. KGaA rose 0.2% to €8.14 after Germany-based professional football club operator said revenues in the year ending in June jumped 7.8% from a year ago to €405.7 million.

Net profit in the year tumbled 72.1% to €8.2 million from €29.4 million in a year ago six-month period and diluted earnings per share slumped to €0.01 from €0.15.

H & M Hennes & Mauritz AB slumped 5.5% to 210 Swedish kronor after Sweden-based fashion retailer reported sales in the nine-month ending in August soared 7.2% from a year ago to 149.6 billion kronor.

Net income in the period dropped 3.9% to 12.2 billion kronor from 12.7 billion kronor and earnings per share decreased to 7.37 kronor from 7.69 kronor.

The fashion retailer said sales in China soared 8%, in the U.S. and Norway each advanced 7% and in Spain jumped 5%.

Imperial Brands Plc, formerly Imperial Tobacco Group Plc declined 3.4% to 3,189 pence said in the full-year it is on track to meet earnings expectations and estimated “strong growth in revenues and earnings.”

TUI AG fell 0.4% to €14.39 after Germany-based tourism services provider said reaffirmed that in the fiscal 2017 operating profit growth estimated to about 10% and the summer 2017 season closed with fully sold by 97%.

TUI said revenues booked jumped 7% and customer volumes increased 3%, despite operations in the Caribbean and Florida were hurts from recent hurricanes.

SSP Group Plc soared 7% to 535.95 pence after the U.K.-based food and beverage provider reported total group revenues in the fourth-quarter ending in September to soared 14.8% and comparable sales growth of about 3%.

The food and beverage outlets in travel locations operator said net contract in the year to jump 8.5% and additional revenue from travel food services in India increased 3.3%, compared with the same period last year.

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