×
2 256
Fashion Jobs
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
ESTEE LAUDER
Clinique - Consultant - John Lewis, Cambridge - 21 Hours - Part Time - Permanent
Permanent · Cambridge
ESTEE LAUDER
Clinique - Consultant - Boots, Horsham - 13 Hours - Part Time, Permanent
Permanent · Horsham
ESTEE LAUDER
Clinique - Consultant - Boots, Crawley - 13 Hours - Part Time, Permanent
Permanent · Crawley
ESTEE LAUDER
Clinique - Consultant - Boots, Oxford Street - 22.5 Hours - Part Time, Permanent
Permanent · London
ESTEE LAUDER
Clinique - Consultant - Boots-Hampton, Peterborough - 11 Hours - Part Time, Permanent
Permanent · Peterborough
ESTEE LAUDER
Clinique - Consultant - Heathrow, Terminal 4 - 18 Hours / 3 Days - Part-Time, Permanent
Permanent · Longford
ESTEE LAUDER
Clinique - Consultant - Boots, Ballymena - 9.5 Hours / Week - Part Time, Permanent
Permanent · Ballymena
ESTEE LAUDER
Mac Cosmetics -Media And Advertising Manager
Permanent · London
ESTEE LAUDER
Clinique - Consultant - Boots, Oxford - 24 Hours - Part Time, Permanent
Permanent · Oxford
ESTEE LAUDER
Clinique - Consultant - Marks & Spencer – Manchester, Handforth - 15 Hours / 3 Days, Part-Time, Permanent
Permanent · Manchester
ESTEE LAUDER
Clinique - Consultant - Marks & Spencer – Lisburn - 15 Hours / 3 Days, Part-Time, Permanent
Permanent · Lisburn
ESTEE LAUDER
Clinique - Consultant - John Lewis, Oxford Street - 37.5 Hours - Full Time, Permanent
Permanent · London
ESTEE LAUDER
Clinique - Consultant - Boots - Fosse Park, Leicester - 28 Hours / Week - Part Time, Permanent
Permanent · Leicester
ESTEE LAUDER
Clinique - Consultant - Boots, Aylesbury - 30 Hours - Full-Time, Permanent
Permanent · Aylesbury
ESTEE LAUDER
Estée Lauder Companies Multi-Brand - Clinique & Origins Consultant - House of Fraser, Manchester - 14.25 Hours / Week - Part Time, Permanent
Permanent · Manchester
ESTEE LAUDER
Clinique - Consultant - Boots, Horsham - 35 Hours - Full Time, Permanent
Permanent · Horsham
ESTEE LAUDER
Clinique - Consultant - Boots, Livingston - 15 Hours - Part-Time - Permanent
Permanent · Livingston
VIVIENNE WESTWOOD
Buying Admin Assistant
Permanent · LONDON
STELLA MCCARTNEY
Treasury Analyst
Permanent · LONDON
STELLA MCCARTNEY
Business Intelligence Analyst
Permanent · LONDON
Ads
By
Reuters
Published
Aug 4, 2008
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Bulgari shares fall after profit guidance narrowed

By
Reuters
Published
Aug 4, 2008

MILAN, Aug 4 (Reuters) - Shares in Bulgari SpA fell as much as 9.5 percent on Monday after the Italian jeweller reported a fall in first-half profit and narrowed guidance on 2008 results to the lower end of a previous range. Bulgari expects sales, operating and net profits to rise between 8 percent and 10 percent this year, down from an earlier forecast of 8-12 percent.


Bulgari Bridal

Investors are eyeing luxury watchmakers and jewellers for signs that a slowdown in consumer spending stemming from the credit crisis has spread also to the wealthy.

"First profit warning in the luxury sector and probably not the last," analysts at Societe Generale CIB said in a research note.

Bulgari reported on Friday a 7.1 percent fall in first-half net profit to 54 million euros ($84.14 million).

Credit Suisse lowered its target price on Bulgari's shares to 7.30 euros from 8.50 euros after cutting its forecasts on the jeweller's earnings per share for this year and the next.

At 1033 GMT, shares in Bulgari had lost 7.5 percent to 6.39 euros. Traded volumes totalled twice the daily average of the last 30 days.

"We anticipate short-term weakness in the stock in the light of the restricted guidance and the share price rally over the past two weeks (+18.5%)," Credit Suisse said.

Goldman Sachs said in a note it too expected short-term pressure on the stock following the results.

Bulgari trades at 13.28 times its expected 2008 earnings according to Reuters data, in line with a sector's median of 13.18. (Reporting by Valentina Za, editing by Mike Peacock)

© Thomson Reuters 2022 All rights reserved.