Debenhams and Nike in the limelight

Thursday was led by corporate releases at both sides of

the Atlantic, with Debenhams and Nike releasing seasonal figures. Meanwhile, SuperGroup received a thumbs up from Cantor Fitzgerald analysts.

British department store Debenhams reported sales at stores open over a year were flat in the 16 weeks to June 22, in sharp contrast with first semester like-for-like sales 3.1 percent rise and market expected 2 percent growth.

"Any retailer that you speak to will tell you that it's not easy out there ... I think in the context of the market backdrop these are robust results," CEO Michael Sharp told reporters to justify the weaker than-expected results.

Shares in the firm, down 23 percent since the start of the year, were up 1.75 pence on Thursday, valuing the business at 1.13 billion pounds, according to data published by Reuters. Commenting the news, Sanjay Vidyarthi from Espirito Santo Investment Bank, said: "This is not a high quality update, but we think that the market had been expecting another warning.”

Still in London, Cantor Fitzgerald analyst Kate Calvert has increased her target price for fashion retailer SuperGroup (SPG.L) despite a recent slowdown in UK sales growth, arguing that overseas potential trumps the challenges in the domestic market.

Across the Pond, Nike posted fourth quarter earnings after the bell on Thursday, narrowly beating top and bottom-line estimates and growing margins by a chunky 110 basis points, sending the stock up in post-market trading, reported ‘Forbes’. Despite a tough starting for the company’s management, who defended a disappointing first quarter guidance, Nike’s stock reverse the losses as revenues are expected to grow in the mid to high single digits, while gross margins should remain flat, while it will remain difficult to forecast how quickly China can retain to sustained growth.