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http://www.fashionunited.co.uk/fashion-news/fashion/profit-warnings-also-hit-fashion-retailers-2013012816789

international newport fashion group madrid, designers warning Profit warnings also hit fashion retailers

Profit warnings have made to the news since the very beginning of the year, and the fashion and luxury industries have been no exception to this trend. French Connection, Esprit, Burberry, Mulberry… all of them have seen their business and stocks tumbling after issuing profit warnings in the past months.

2012 will be recorded as the worst year for UK-listed companies since the height of the financial crisis, as, according to data compiled by the quarterly Ernst & Young report on profit warning, there were 287 profit warnings in 2012.

Ernst & Young's latest quarterly profit warnings report counted 86 issued in the last three months of last year. More than 15 percent of UK quoted companies issued warnings in 2012, only slightly down on 2008, the worst year on record, when there were close to 18 per cent. Burberry and Mulberry featured among the top-profile London-listed companies that have issued profit warnings during the last year, being it two times for Mulberry.

Last to issue a profit warning in London was ailing French Connection. Earlier in January and in an unscheduled update, the owner of FCUK brand said Christmas sales were hit by lower demand and a delay in discounting, upping their estimated full year loss to 7.5m-8 million pounds, far above ...

http://www.futuresmag.com/2013/02/10/stock-markets-bull-trend-keeps-charging-despite-se?t=financials

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You can’t keep a good man down. Markets tried to correct and couldn’t do it. The usual suspects are the bears themselves who flat out gave up again just when they had the bulls on the ropes. The reason given for the tech surge late in the week was a stock buyback for Apple Computer.

Are you kidding me? Are the bears this weak they’ll fold up the tent on such questionable news? AAPL doesn’t even have good enough calculations to call a bottom yet. The net result of such a discussion is the SPX ended up at a new high. What that does is violate the 987 day window from last week that was influencing the turn. Not only that but the SPX had some serious Fibonacci calculations at last week’s prior high.

There’s lots going on here but all you need to pay attention to is the ABC coming off the November low where A and C were close to equality. Now that’s gone. Then on the weekly we had a 161A in roughly the same place with the first leg up off the 2011 low. That’s just about gone. Unless they come in and hit it fairly quickly, they’ve opened the door to the 1564 projection we’ve discussed in this space and now at 1518 that’s not so far away and absolutely not far-fetched by any stretch of the imagination. This pattern still resembles a wedge but wedges can fail. Patterns are not set in stone.

We can get all different kinds o...

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