Burberry, Macy's and Buckle palate wins after elections

Asian stock indexes ended higher on Wednesday

following the reelection of U.S. President Barack Obama, with the incumbent’s victory seen as removing uncertainly. In Hong Kong, notable gainers included apparel firm Esprit Holdings Ltd., which closed at a rise thanks to the addition of 5.5 percent.

In the UK, Burberry Group (LON: BRBY)‘s stock had its “buy” rating reaffirmed by research analysts at Seymour Pierce in a report released on Wednesday. They currently have a 23.99 dollars (1,500 pence) target price on the stock. The stock currently has a 52-week low of 997.9999 pence and a 52-week high of 1604.9999 pence.

Macy’s has reported a strong third quarter earnings that underscore the company’s continued progress in implementing key business strategies to drive growth. Earnings were 36 cents per diluted share for the third quarter of 2012, compared to the same period’s earnings of 32 cents per diluted share last year.

“We were pleased to deliver sales and earnings growth for the 11th consecutive quarter,” said Terry J. Lundgren, chairman, president and chief executive officer of Macy’s. “Our success in the third quarter reflected a combination of factors, as has been the case over the past several years. We continue to implement our My Macy’s localization, omni-channel integration and enhanced customer engagement strategies with increasing precision, passion and success. This has helped us to deepen our relationship with customers and capture market share,” Lundgren added.

The upscale department store has increased its full-year 2012 earnings guidance from 3.35 dollars to 3.40 dollars per diluted share, including fourth quarter earnings guidance of 1.94 dollars to 1.99 dollars per diluted share. Previous 2012 full-year guidance set earnings of 3.30 dollars to 3.35 dollars per share, and compares to initial guidance of 3.25 dollars to 3.30 dollars per diluted share provided earlier this year.

Elsewhere, Zacks‘ analysts have reiterated their confidence on The Warnaco Group. The Warnaco Group traded down 0.57 percent on Wednesday, hitting 71.02 dollars, not too far from its 52-week high of 71.87 dollars. “Warnaco’s third quarter 2012 adjusted earnings of 1.15 dollars per share (up 7.5 percent year over year) beats the Zacks Consensus Estimate by a penny, driven by cost control, coupled with strong business by brands like Calvin Klein and Speedo. However, sales missed the Zacks Consensus Estimate of 640 million dollars. Net sales slipped 5 percent from the prior-year quarter to 611.5 million dollars as result of poor business in Sportswear and Intimate Apparel coupled with macroeconomic headwinds in the U.S. and Europe and unfavorable foreign currency translation. Moreover, the company has entered into a merger agreement with PVH Corp, which is expected to close in early 2013. PVH will acquire Warnaco for 2.9 billion dollars and will gain the rights of Warnaco’s most popular brand, Calvin Klein. Also, high cost of cotton has been crippling the margins of the company for consecutive quarters, “ wrote the research team at Zacks.

Finally, Buckle Inc.'s (BKE) board authorized a special dividend of 4.50 per share, seeing its shares lifted by 5 percent to 50 dollars in afterhours trading.