The Noni B Limited (ASX: NBL) share price is on course to have a positive finish to the week.
In morning trade the fashion retailer’s shares are up 2.5% to $2.80. At one stage they were up as much as 6% to $2.89.
Why is the Noni B share price on the rise?
This morning Noni B released a trading update which included its expectations for the full year.
According to the release, the company has finished the year in a positive fashion and expects to report total sales of $864 million and underlying EBITDA of approximately $45 million.
The latter will be in-line with its guidance and a 21% increase on the underlying EBITDA of $37.2 million achieved in the prior corresponding period.
Another positive over the 12 months was the company’s online sales growth. The release explains that online sales as a proportion of total sales continued to grow and now represent 9.8% of Noni B’s sales.
Management advised that it was “very pleased with this result in the current climate and, in particular, the Group’s sales performance through the key Christmas and Mother’s Day trading periods.”
Elsewhere in the industry today, the Michael Hill International Ltd (ASX: MHJ) share price has continued its slide. Investors hit the sell button on Thursday despite the jewellery retailer’s trading update revealing an improvement in its sales performance.
This morning equity analysts at Macquarie retained their outperform rating on Michael Hill International’s shares, albeit with a slightly reduced price target of 80 cents.
And the Helloworld Travel Ltd (ASX: HLO) share price is trading 1% lower after Morgans held firm with its hold rating and cut the price target on its shares down by around 10% to $5.27. The broker made the move in response to weak consumer spending and a cooling corporate travel market.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Helloworld Limited. The Motley Fool Australia has recommended Helloworld Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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