European flavour for Thursday's session

Thursday trading was heavily weighted by the corporate

news of the day with British department store chain Debenhams and Etam Group reporting seasonal figures. Michael Kors also featured among the most commented stocks, as the American label is blooming with new beauty range and travel guide editions.

The Etam group generated net sales of 333.6 million euros in the first quarter of 2013, what implies a 0.7 percent improvement on same period a year ago. Sales totalled to 1,216.9 million euros in 2012 (+2.8 percent on a year-to-year basis). Consolidated net income in 2012 came to 13.4 million euros compared to the previous year’s 11.3 million. Group’s EBITDA was of 100.4 million euros in 2012 against 89.3 million euros in 2011. Operating income reached 41.9 million euros, well ahead the 41.5 million euros reported in 2011.

Meanwhile, in London, Debenhams reported half year results for the 26 weeks ended on March 2, 2013. Group like-for-like sales increased by 3.1 percent, while profit before tax was down 5.4 percent. Good news for investors though, as earnings per share (EPS) gained 2.7 percent. Group gross transaction value grew by 3.5 percent.

Impressive online growth, as the business volume of Debenhams e-commerce nearly doubled as advanced 46.2 percent. Group’s EBITDA (earnings before taxes and amortsation) downed by 3.2 percent during the first half.

Earlier this week, Gap Inc advanced its plans for the Old Navy brand, aiming to recur to franchising its international branches to speed up the label’s expansion into foreign markets. "We have big, big opportunities internationally," Chief Executive Glenn Murphy said during a meeting with investors held on Wednesday. "We have every intention to be the world's favourite for American style." In the same vein, Chief Financial Officer Sabrina Simmons said Gap is aiming to return to peak sales of more than 400 dollars per square foot, compared to last year’s 364 dollars, reported Fox Business.