JD Sports to open new store at St David's Cardiff in 2026
Cardiff St David's centre director Helen Morgan said: "We're pleased to announce more new names and upsized stores at St David's.
"It's an exciting time for the centre as we continue to attract in-demand brands and enhance guest experience to maintain our position as a top UK retail destination."
Southeast Asian restaurant Banana Tree is also set to open next month.
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Reuters
a day ago
- Reuters
European shares rebound after Friday's selloff, Swiss stocks fall
Aug 4 (Reuters) - European shares closed higher on Monday, rebounding from six-week lows as a surge in banking stocks offset a decline in Swiss shares following a hefty 39% U.S. tariff on Swiss goods. The pan-European STOXX 600 index (.STOXX), opens new tab rose 0.9%, with most major regional markets, barring Swiss stocks, rebounding from Friday's sharp losses, when worries about tariffs and a weak U.S. jobs report hammered sentiment. The German DAX (.GDAXI), opens new tab climbed 1.4%, France's CAC 40 (.FCHI), opens new tab rose 1.1% and Britain's FTSE 100 (.FTSE), opens new tab added 0.7%. Zurich's SMI index (.SSMI), opens new tab dipped 0.2% as trading resumed following a long weekend. Switzerland was left stunned on Friday after Trump hit it with one of the highest tariffs in his global trade reset, with industry associations warning that tens of thousands of jobs were at risk. Swiss luxury watchmakers' shares, including Richemont (CFR.S), opens new tab and Swatch (UHR.S), opens new tab, fell 1.3% and 2.3%, respectively. "It's understandable why Switzerland is lagging. Companies most exposed to international trade flows appear to be under the greatest pressure. However, a quarter percent decline isn't particularly significant," said Russ Mould, investment director at AJ Bell. "It seems there may still be hopes that a deal will be struck on terms that are, if not favourable, at least less unfavourable than what the White House has imposed so far." Switzerland was ready to make a "more attractive offer" in trade talks with Washington, its government said on Monday. The duties were scheduled to go into effect on Thursday, giving Switzerland, which counts the U.S. as its top export market for pharmaceuticals, watches, machinery and chocolates, a small window to strike a better deal. European stocks have moved further away from this year's peak as U.S. tariffs on its key trading partners raise concerns about a resurgence in inflationary pressures and slowing economic growth. Banks (.SX7P), opens new tab were a bright spot on the day, with shares in British lenders surging after the country's Supreme Court overturned a ruling on motor finance commissions, easing fears among banks about a redress scheme some analysts had warned could run into the tens of billions of pounds. Lloyds (LLOY.L), opens new tab added 9% to the top of the STOXX 600, while Close Brothers (CBRO.L), opens new tab surged 24%. Barclays (BARC.L), opens new tab, Bank of Ireland and Santander ( opens new tab all gained more than 2% each. UBS (UBSG.S), opens new tab dipped 0.7% after the bank said it would pay $300 million to resolve U.S. mortgage securities cases related to the misselling of mortage-linked investments.
Reuters
2 days ago
- Reuters
Swiss luxury watchmakers' shares drop after Trump tariff shock
Aug 4 (Reuters) - Swiss luxury watchmakers' shares, including Richemont (CFR.S), opens new tab and Swatch (UHR.S), opens new tab, were volatile in early trade on Monday, reflecting the challenge for the industry after U.S. President Donald Trumpset a 39% tariff on Swiss imports. The sector, which exported watches worth 26 billion Swiss francs ($33 billion) in 2024, is already under pressure from a stronger franc and falling global demand. Watch exports are on track to hit their lowest levels since the pandemic in 2020. "The impact of the U.S. tariffs, if they stay at 39%, could be devastating for numerous brands in Switzerland," said Jean-Philippe Bertschy, an analyst at Vontobel. Shares in Richemont and Swatch were both down around 1% at 0906 GMT, paring back losses after earlier falling as much as 3.4%, and 5%, respectively. Bertschy linked the move to hopes of Switzerland still getting a better deal - the tariffs are effective as of August 7. Swatch Group Chief Executive Nick Hayek called on Swiss President Karin Keller-Sutter to meet Trump. "Tariffs can change at any moment due to the unpredictability of the Trump administration," said Georges Mari, co-owner of Zurich-based investment firm Rossier, Mari & Associates, which holds shares in Swatch, adding that it is "impossible to make a serious forecast". Monday was the first day of trading following the U.S. tariff announcement, as markets were closed on Friday for the Swiss National Day holiday. The U.S. is Switzerland's leading foreign market for watches, accounting for 16.8% of exports worth about 4.4 billion francs, according to the Federation of the Swiss Watch Industry. While Richemont generated 32% of its full-year 2025 sales in the watches category, its exposure to the United States market should be just below 10% of overall sales, analysts at Jefferies said. Swatch, meanwhile, generated 18% of its 2024 sales in the United States, with its CEO saying the company had raised prices by 5% following the first tariffs announcement in April.
Reuters
25-07-2025
- Reuters
Puma shares dive after warning of full-year loss, US tariff impact
July 25 (Reuters) - Puma ( opens new tab shares dropped 16% on Friday after the German sportswear brand said it now expects an annual loss as sales decline and U.S. tariffs dent profit. Puma has been struggling to attract shoppers as re-released retro sneakers, such as the Speedcat, have not sold as well as hoped, and CEO Arthur Hoeld, in the role since July 1, said the company needs to "course-correct". "This year, 2025, will be a reset for Puma and 2026 will be a transition year for us," said Hoeld, formerly sales chief at Adidas, who was appointed by Puma's board in April to turn performance around. "We as a company need to take a hard look at ourselves," he said on a conference call with journalists. "We do have tremendous potential with a brand that hasn't been unlocked yet, but a brand that also requires a reset and a new way forward." Hoeld said he planned to review Puma's growth plan and strengthen the quality of wholesale distribution, and that he would give a broader roadmap on his strategy for Puma by the end of October. "Puma is facing an existential identity crisis in terms of relevance in a sporting goods industry that is more competitive, and at a time when the largest player Nike is staging its comeback from Autumn/Winter '25," said RBC analyst Piral Dadhania. U.S. tariffs will reduce Puma's gross profit this year by about 80 million euros ($94 million) despite efforts to offset the pain, including U.S. price hikes in the fourth quarter, Chief Financial Officer Markus Neubrand said. He declined to say how much prices would go up. Sportswear retailers like Nike (NKE.N), opens new tab, Adidas ( opens new tab and Puma rely on Southeast Asian countries like Vietnam for the sneakers and clothes they import into the United States, making them especially exposed to tariffs. Puma frontloaded shipments of goods from Asia ahead of successive U.S. tariff deadlines, Neubrand said, driving inventory levels up and contributing to more discounting. Most Puma products sold in the United States are made in Vietnam, Cambodia, and Indonesia, Neubrand said, and the company aims to cut its sourcing from China to the U.S. further from 10% currently. In preliminary earnings released late on Thursday, Puma said annual sales would decline by at least 10%, having previously forecast low to mid-single-digit growth. Puma's second-quarter currency-adjusted sales of 1.94 billion euros were weaker than analysts expected, with North America sales dropping 9.1% and Europe down 3.9%. The company did not say how big the annual loss was likely to be. It previously forecast earnings before interest and tax of between 445 million euros and 525 million euros for the year. Puma also cut its capital expenditure plans for the year to 250 million euros from 300 million euros previously. ($1 = 0.8520 euros)
