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Highlights
- UK stock market, along with European markets, has made a soft start of the last quarter of 2021.
- Retail stocks like JD Sports Fashion, Boohoo Group Plc, ASOS Plc are witnessing some profit booking.
UK stock market, along with European markets, are trading in red on Friday, starting the last quarter of 2021 on a weak note.
In the UK market, retail stocks like JD Sports Fashion, Boohoo Group Plc, ASOS Plc are witnessing some profit booking, as investors fear consumer spending could decline with many of the pandemic-era supports, such as furlough comes to an end from 1 October 2021. Also, there is fear that the tightening of the fiscal policy following withdrawal supports could impact consumer spending in the UK.
Let us look explore 3 FTSE listed stocks that are making news today:
The Hut Group Plc (LON: THG)
The company operates in the retail segment, selling its branded beauty and nutrition products through its e-commerce platform.
The company operates its business through its proprietary technology platform and focuses on taking its brands directly to consumers. During the half-year ended 30 June 2021, it reported revenue of £9558.8 million, a rise of 41.9% compared to last year, with the beauty segment contributing 55.9% of total revenue. The company also launched 14 new products, which supported the revenue growth. As a result, adjusted EBITDA for the group stands at £81.2 million. The high-performance growth reported by the company was due to returning customers, which generated 76% of the total revenue, along with consumers shift towards online shopping.
The Hut Group Plc currently trades at GBX 498.40, down by 1.70% on 1 October 2021 at 9:10 am GMT+1 with a market cap of £6,163 million.
ASOS Plc (LON: ASC)
The company operates an e-commerce fashion website globally. It offers over 85,000 men and women fashionwear products through an online portal and social media platforms.
The company has operations in over 200 markets globally, and its products are targeted towards the young generation. During the four months to 30 June 2021, the company reported total retail sales of £1,242.1 million due to strong demand in the UK and the US market. Also, the active base of the company has increased by 1.2 million to 26.1 million during the first half of 2021. The company has set an ambitious target to make its products environmentally friendly. It plans to make its direct operations carbon neutral by 2025 and achieve net-zero across the value chain by 2030.
ASOS Plc currently trades at GBX 2,942, down by 2% on 1 October 2021 at 9:10 am GMT+1 with a market cap of £2,997 million.
Diageo Plc (LON: DGE)
FTSE100 listed company is one of the largest alcoholic beverages companies in the world. It produces and market alcoholic beverages through various popular brands.
The company reported growth in its core business across all regions in the current financial year, indicating a strong bounce back in consumer demand after the pandemic. The company’s North American business is performing strongly, despite some supply chain constraints. Europe and Asia-pacific businesses are performing well and expect to benefit in the coming months due to robust off-trade and on-trade demand. Also, the company continues to invest in marketing and innovative products to capture market share and long-term growth.
Diageo Plc currently trades at GBX 3,580.50, down by 0.57% on 1 October 2021 at 9:10 am GMT+1 with a market cap of £82,083 million.
