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Now, let's take a look at some of the stocks on the move today in Europe. I'm Lizzie Burden with Stephen Carroll and we're joined by Bloomberg reporter Chloe Melly, who I must say, just sprint it to the studio. I want to talk about trainers, Chloe. Puma this morning, it was indicated much much higher on trade gear. I think it was quite high at the start of the session, but it's only up she says, only three point two percent. Now, what has been going on with this stock?
Yeah, so it has spared some of some of those games, but it was it was quite strong this morning at the open because Anti Sports has become the biggest shareholder in Puma. So it's taken pretty eight million dollars steak that it brought from the Pino family. So let's kind of go through what that means for kind of everyone involved.
So for the Pino family, it means kind of pairing back its holdings that are not in luxury itself, and so that means that it will be able to kind of refocus on luxury in the turnaround at Gucci in particular, and for Ander that means that it will expand its portfolio of athletic brands and that it will be that will enable it to kind of respond to this growing demnfre athleisia around the world. And then for Puma, it means having the backing of Anta for its turnaround effort.
So the company has struggled obviously quite a lot recently. The shares are down before today, we're down more than thirty percent over the last year, and it hasn't really been able to sort of compete with Nike, with Adidas, with kind of new entrants as well into that that market, like on or like a Hokker for example. But the CEO said that it was targeting a return to growth
by twenty twenty seven. So the fact that Anta believes in that Puma story and that Puma turnaround story is good news for that company, and that explains the well the big jump in the shares that we had at the start and now paired back a little bit, and it also could pave the way for a full takeover of Puma. So we'll have to look out for that as well.
Yeah, Chloe, catch your breath there for a moment after running in those Puma shoes to get here with it that story too. But we're thinking more broadly about the luxury sector as well. That gold and Sachs in basket of luxury stock slumping eight point one percent this year, one of the sectors that you know is being hit by geopolitical tensions, questions of course of our Chinese consumer demand as well. We're looking ahead towards the LVM HATE
results later on too. But Burbery and focus this morning at what did we learn from that company?
Well, it was upgraded to by rating at Berkley's and so there is a week after a reported sales that were ahead of expectations, and so at the time that boosted investor confidence in maybe a broader luxury market rebound, which is a theory that will be tested later today when we get those those LVMH earnings coming after the close and those share prices in the sector, as you just mentioned, have been under quite a lot of pressure recently.
There has been a lot of essions about the revival, the potential revival and Chinese demand, and there have been of course those renewed trade tensions geopolitical tensions that have weighed on the sector. But then if we look at Barbary in particular, what the Berclays analysts have been saying is that this is a company that has a real kind of really good turnaround story and under the new CEO,
it has been able to revive that growth. And so the analyst said that they see fewer reasons to be cautious about that company and about that turnaround as it kind of progresses and settles in. And it also expects Barbary will outpace growth from rivals in the sector. But as I just mentioned, we'll have to see from lv image what we actually get from them if they see that similar revival and if they also get that boost.
Okay, well, sticking with the winners this sprning, we have Cramswick those shouts up as well. What's going on.
Yeah, so it's a little bit less glamorous than Burbury. Cranswick is a meat producer, but it is doing very well. It expects profit to come in at the top end of expectations, and that is thanks to really strong demand,
actually record performance over Christmas. So Christmas of course, tends to be very positive for meat producers because of turkeys and whatnot, But Cranswick is also benefiting from a longer term protein trend with consumers really focused on how much protein they're having and really increasing their consumption of meat in particular, and big food companies like Neslie have been trying to make all kinds of protein enhanced products. You know,
there's things like protein water now. But another kind of big sector there's been a beneficiary of this protein trend has been those kind of smaller, less well known companies meat and dairy producers like Cranswig, which have been able to actually really capitalize on that trend, and it has been very positive for that company.
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