1 00:00:02,520 --> 00:00:07,360 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,520 --> 00:00:12,440 Speaker 2: The Stock Mover's Report, your roundup of companies making moves 3 00:00:12,480 --> 00:00:15,880 Speaker 2: in the stock market, harnessing the power of Bloomberg Data. 4 00:00:16,680 --> 00:00:18,360 Speaker 3: Let's take a look now at some of the stocks 5 00:00:18,360 --> 00:00:20,560 Speaker 3: on the move today in Europe. I'm Lizzie Burden with 6 00:00:20,600 --> 00:00:23,439 Speaker 3: Stephen Carroll and were joined by Bloomberg's Breaking News editor 7 00:00:23,600 --> 00:00:26,320 Speaker 3: Louise Moon. Louise, I want to start with Birbery because 8 00:00:26,360 --> 00:00:28,960 Speaker 3: it looks like investors are actually convinced by the CEO's 9 00:00:29,000 --> 00:00:32,200 Speaker 3: turnaround plan. I didn't know if we could have faith 10 00:00:32,360 --> 00:00:34,600 Speaker 3: in Joshua Shulman when he came over from Coach and 11 00:00:34,680 --> 00:00:35,360 Speaker 3: Michael course. 12 00:00:35,720 --> 00:00:38,160 Speaker 1: Indeed, yeah, I mean, judging by the share price this morning, 13 00:00:38,200 --> 00:00:40,440 Speaker 1: they're leading the gains on the foot seat one hundred 14 00:00:40,520 --> 00:00:45,240 Speaker 1: to Birbury shares reacting quite well to what was quite 15 00:00:45,320 --> 00:00:49,120 Speaker 1: strong third quarter. So sales picked up more than expected, 16 00:00:49,440 --> 00:00:52,400 Speaker 1: and a lot of that was a big boost from China, 17 00:00:52,479 --> 00:00:55,800 Speaker 1: So pick up in sales and China growth doubled versus 18 00:00:56,240 --> 00:00:59,480 Speaker 1: the last quarter. China's obviously a very crucial market for 19 00:00:59,680 --> 00:01:02,760 Speaker 1: a lot of luxury companies, and particularly Burbery that they've 20 00:01:02,800 --> 00:01:06,080 Speaker 1: kind of typically relied on heavy and relied heavily on 21 00:01:06,160 --> 00:01:08,840 Speaker 1: demand from China. As you say, it's been seen as 22 00:01:08,880 --> 00:01:11,760 Speaker 1: another sign of a turnaround is taking shape. So the 23 00:01:11,800 --> 00:01:14,920 Speaker 1: CEO he joined in mid twenty twenty four and he's 24 00:01:15,000 --> 00:01:18,280 Speaker 1: been taking Berberi back to its basics, back to its core, 25 00:01:18,360 --> 00:01:22,880 Speaker 1: So trench coats, scarves, tartan, really, you know, doubling down 26 00:01:22,920 --> 00:01:25,120 Speaker 1: on the britishness of it. You can see people like 27 00:01:25,160 --> 00:01:29,200 Speaker 1: Olivia Coleman in their adverts, so taking in the chippy Louise. 28 00:01:29,240 --> 00:01:32,680 Speaker 1: That's why I was skeptical, Olivia Colman serving. Everyone loves 29 00:01:32,680 --> 00:01:35,280 Speaker 1: Olivia Coleman, but taking Berberie back to its core, and 30 00:01:35,319 --> 00:01:37,399 Speaker 1: investors have really been welcoming that, so that the shares 31 00:01:37,480 --> 00:01:39,840 Speaker 1: rose about thirty percent last year and as I say, 32 00:01:39,840 --> 00:01:43,680 Speaker 1: again rising this morning on the back of this. One 33 00:01:43,720 --> 00:01:47,080 Speaker 1: thing to note is they didn't upgrade anything in terms 34 00:01:47,120 --> 00:01:49,720 Speaker 1: of looking forward, but one analyst was saying that they 35 00:01:49,720 --> 00:01:51,960 Speaker 1: don't see that as a negative. You know, Berberi have 36 00:01:52,000 --> 00:01:55,320 Speaker 1: already said that they want to leave themselves some firepower 37 00:01:55,400 --> 00:01:59,800 Speaker 1: to invest. So this turnaround taking shape as Berbery goes 38 00:01:59,800 --> 00:02:01,960 Speaker 1: back trench coats, scarves and tartan. 39 00:02:02,760 --> 00:02:05,760 Speaker 2: Well, let's go from fashion to chocolate and a third 40 00:02:05,960 --> 00:02:09,679 Speaker 2: CEO and five years for Barry, Calibo and Switzerland. 41 00:02:09,360 --> 00:02:12,640 Speaker 1: Two of my favorite topics, Steve. Yeah, So Barry had 42 00:02:13,040 --> 00:02:16,600 Speaker 1: shares up almost five percent. This is one of the 43 00:02:16,600 --> 00:02:19,919 Speaker 1: world's biggest bulk chocolate makers, as you say, their third 44 00:02:20,280 --> 00:02:24,200 Speaker 1: CEO in less than five years. So they've appointed Heinz Schumacher, 45 00:02:24,240 --> 00:02:27,400 Speaker 1: the former boss of UNILEVERA he'll start at the end 46 00:02:27,400 --> 00:02:31,000 Speaker 1: of January. And the outgoing CEO, a man called Peter Feld, 47 00:02:31,120 --> 00:02:34,920 Speaker 1: He's gonna, what they have said, pursue other opportunities. Essentially, 48 00:02:34,919 --> 00:02:40,000 Speaker 1: this is all coming amid the record cocoa prices volatility 49 00:02:40,440 --> 00:02:43,480 Speaker 1: that have been that the market's been grappling with, and 50 00:02:43,520 --> 00:02:48,480 Speaker 1: the outgoing CEO had tried to mitigate this by restructuring 51 00:02:48,480 --> 00:02:52,200 Speaker 1: the business to prioritize higher margin chocolate making, but still 52 00:02:52,280 --> 00:02:55,680 Speaker 1: volumes have been falling, falling more than expected. So Aless 53 00:02:55,720 --> 00:02:58,720 Speaker 1: is saying that trust in his leadership has been eroded 54 00:02:58,760 --> 00:03:02,480 Speaker 1: for quite a while. Change was not long overdue, it 55 00:03:02,520 --> 00:03:05,760 Speaker 1: was needed. So, as I say, shares up this morning, 56 00:03:06,000 --> 00:03:09,080 Speaker 1: recovering from a decade low that was hit last year, 57 00:03:09,360 --> 00:03:11,680 Speaker 1: although if you look back more historically, they're still way 58 00:03:11,720 --> 00:03:13,760 Speaker 1: off a peak that was hitting twenty twenty one. So 59 00:03:13,840 --> 00:03:16,520 Speaker 1: Schumack it's got a big task ahead. He was pushed 60 00:03:16,520 --> 00:03:19,680 Speaker 1: out of Unilever last year. The board wasn't satisfied with 61 00:03:20,160 --> 00:03:22,240 Speaker 1: the restructuring that he was trying to put in place there. 62 00:03:22,680 --> 00:03:25,360 Speaker 1: But he's been in the consumer industry for a long time. 63 00:03:25,880 --> 00:03:28,120 Speaker 1: He's got a lot of experience, he's got a lot 64 00:03:28,160 --> 00:03:33,120 Speaker 1: of relationships, particularly with some key customers for Barry. Calavo 65 00:03:33,760 --> 00:03:36,240 Speaker 1: and so Anlysta are welcoming this that they're welcoming this 66 00:03:36,360 --> 00:03:39,760 Speaker 1: new CEO and some hope for some change there. 67 00:03:39,640 --> 00:03:41,800 Speaker 3: And Louie's a slide for Dunner and tell us more. 68 00:03:42,160 --> 00:03:44,560 Speaker 1: Yes, dan and fell as much as twelve percent this morning, 69 00:03:44,560 --> 00:03:46,720 Speaker 1: and then they did trim some declines after that, but 70 00:03:47,000 --> 00:03:50,480 Speaker 1: a big fall in early trading. Traders appointing to There's 71 00:03:50,520 --> 00:03:54,080 Speaker 1: been some commentary around an announcement by the Singapore Food Agency. 72 00:03:54,120 --> 00:03:56,720 Speaker 1: This actually came earlier this week, but it seems that 73 00:03:56,760 --> 00:03:59,520 Speaker 1: the connection with dan On is only really being made now. 74 00:04:00,320 --> 00:04:05,440 Speaker 1: And essentially the Singaple Food Agency recalled some more infant 75 00:04:05,520 --> 00:04:08,600 Speaker 1: formula products and one of those products that will be 76 00:04:08,680 --> 00:04:11,880 Speaker 1: impacted by that is one of dune On's so that's 77 00:04:11,920 --> 00:04:14,320 Speaker 1: one thing that's weighing on the stock. Another thing is 78 00:04:14,640 --> 00:04:18,640 Speaker 1: Bank of America also reiterated the underperform rating for the company. 79 00:04:19,279 --> 00:04:21,800 Speaker 1: They're citing a different factor. They're siting a drop in 80 00:04:22,200 --> 00:04:25,320 Speaker 1: China's birth rate. So obviously the decline in burse will 81 00:04:25,760 --> 00:04:30,400 Speaker 1: exempt exacerbate stress on the market, on the milk formula market. 82 00:04:30,560 --> 00:04:32,240 Speaker 1: So if you look at analyst ratings, they've now got 83 00:04:32,240 --> 00:04:35,039 Speaker 1: eleven buys, ten and five cells, so at the top. 84 00:04:35,360 --> 00:04:37,560 Speaker 1: Quite a tie. So falling on. 85 00:04:37,600 --> 00:04:42,960 Speaker 2: Backflon the stock mover's report from Bloomberg Radio. Check back 86 00:04:42,960 --> 00:04:45,200 Speaker 2: with us throughout the day for the latest roundup of 87 00:04:45,279 --> 00:04:48,560 Speaker 2: companies making news on Wall Street and for the latest 88 00:04:48,560 --> 00:04:52,800 Speaker 2: market moving headlines. 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