Fashion, dividends and discounts

The FTSE 100 slipped back after yesterday's impressive session which saw the index reach its highest level of 2016. Wall Street also marked new highs for the year overnight, while the equity rally continues in Asia.

“Iconic fashion group Burberry’s shares fell in the early trading after lower second half revenues and a warning on its future profitability,” says AJ Bell Investment Director Russ Mould.

“Burberry is being hit by a slowdown in Hong Kong and a fall in demand in Europe following terrorist attacks in Paris and Brussels.

“High street giant Debenhams increased its first half dividend after pre-tax profits rose and it remains on track to deliver full year results in line with market expectations.

“Discount retailer Poundland expects to meet market forecasts despite a tough second half when underlying sales fell by 4.9%. Poundland, which took over rival 99p Stores last year, has been converting the shops to its own brand.”

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