Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: The Stock Mover's Report, your roundup of companies making moves
Speaker 2: in the stock market, harnessing the power of Bloomberg Data.
Speaker 3: Let's take a look now at some of the stocks
Speaker 3: on the move today in Europe. I'm Lizzie Burden with
Speaker 3: Stephen Carroll and were joined by Bloomberg's Breaking News editor
Speaker 3: Louise Moon. Louise, I want to start with Birbery because
Speaker 3: it looks like investors are actually convinced by the CEO's
Speaker 3: turnaround plan. I didn't know if we could have faith
Speaker 3: in Joshua Shulman when he came over from Coach and
Speaker 3: Michael course.
Speaker 1: Indeed, yeah, I mean, judging by the share price this morning,
Speaker 1: they're leading the gains on the foot seat one hundred
Speaker 1: to Birbury shares reacting quite well to what was quite
Speaker 1: strong third quarter. So sales picked up more than expected,
Speaker 1: and a lot of that was a big boost from China,
Speaker 1: So pick up in sales and China growth doubled versus
Speaker 1: the last quarter. China's obviously a very crucial market for
Speaker 1: a lot of luxury companies, and particularly Burbery that they've
Speaker 1: kind of typically relied on heavy and relied heavily on
Speaker 1: demand from China. As you say, it's been seen as
Speaker 1: another sign of a turnaround is taking shape. So the
Speaker 1: CEO he joined in mid twenty twenty four and he's
Speaker 1: been taking Berberi back to its basics, back to its core,
Speaker 1: So trench coats, scarves, tartan, really, you know, doubling down
Speaker 1: on the britishness of it. You can see people like
Speaker 1: Olivia Coleman in their adverts, so taking in the chippy Louise.
Speaker 1: That's why I was skeptical, Olivia Colman serving. Everyone loves
Speaker 1: Olivia Coleman, but taking Berberie back to its core, and
Speaker 1: investors have really been welcoming that, so that the shares
Speaker 1: rose about thirty percent last year and as I say,
Speaker 1: again rising this morning on the back of this. One
Speaker 1: thing to note is they didn't upgrade anything in terms
Speaker 1: of looking forward, but one analyst was saying that they
Speaker 1: don't see that as a negative. You know, Berberi have
Speaker 1: already said that they want to leave themselves some firepower
Speaker 1: to invest. So this turnaround taking shape as Berbery goes
Speaker 1: back trench coats, scarves and tartan.
Speaker 2: Well, let's go from fashion to chocolate and a third
Speaker 2: CEO and five years for Barry, Calibo and Switzerland.
Speaker 1: Two of my favorite topics, Steve. Yeah, So Barry had
Speaker 1: shares up almost five percent. This is one of the
Speaker 1: world's biggest bulk chocolate makers, as you say, their third
Speaker 1: CEO in less than five years. So they've appointed Heinz Schumacher,
Speaker 1: the former boss of UNILEVERA he'll start at the end
Speaker 1: of January. And the outgoing CEO, a man called Peter Feld,
Speaker 1: He's gonna, what they have said, pursue other opportunities. Essentially,
Speaker 1: this is all coming amid the record cocoa prices volatility
Speaker 1: that have been that the market's been grappling with, and
Speaker 1: the outgoing CEO had tried to mitigate this by restructuring
Speaker 1: the business to prioritize higher margin chocolate making, but still
Speaker 1: volumes have been falling, falling more than expected. So Aless
Speaker 1: is saying that trust in his leadership has been eroded
Speaker 1: for quite a while. Change was not long overdue, it
Speaker 1: was needed. So, as I say, shares up this morning,
Speaker 1: recovering from a decade low that was hit last year,
Speaker 1: although if you look back more historically, they're still way
Speaker 1: off a peak that was hitting twenty twenty one. So
Speaker 1: Schumack it's got a big task ahead. He was pushed
Speaker 1: out of Unilever last year. The board wasn't satisfied with
Speaker 1: the restructuring that he was trying to put in place there.
Speaker 1: But he's been in the consumer industry for a long time.
Speaker 1: He's got a lot of experience, he's got a lot
Speaker 1: of relationships, particularly with some key customers for Barry. Calavo
Speaker 1: and so Anlysta are welcoming this that they're welcoming this
Speaker 1: new CEO and some hope for some change there.
Speaker 3: And Louie's a slide for Dunner and tell us more.
Speaker 1: Yes, dan and fell as much as twelve percent this morning,
Speaker 1: and then they did trim some declines after that, but
Speaker 1: a big fall in early trading. Traders appointing to There's
Speaker 1: been some commentary around an announcement by the Singapore Food Agency.
Speaker 1: This actually came earlier this week, but it seems that
Speaker 1: the connection with dan On is only really being made now.
Speaker 1: And essentially the Singaple Food Agency recalled some more infant
Speaker 1: formula products and one of those products that will be
Speaker 1: impacted by that is one of dune On's so that's
Speaker 1: one thing that's weighing on the stock. Another thing is
Speaker 1: Bank of America also reiterated the underperform rating for the company.
Speaker 1: They're citing a different factor. They're siting a drop in
Speaker 1: China's birth rate. So obviously the decline in burse will
Speaker 1: exempt exacerbate stress on the market, on the milk formula market.
Speaker 1: So if you look at analyst ratings, they've now got
Speaker 1: eleven buys, ten and five cells, so at the top.
Speaker 1: Quite a tie. So falling on.
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