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magazineTake profits following Jimmy Choo jump
Jimmy Choo (CHOO) 185.75p
Gain to date: 39.7%
Original entry point: Buy at 133p, 8 December 2016
Our bullish call on luxury shoe retailer Jimmy Choo (CHOO) is now a handsome 39.7% in the money. News (24 Apr) the British luxury brand has put itself up for sale, a move backed by majority shareholder JAB Luxury, saw the shares spike again and we are taking our tidy 39.7% profit off the table.
Following its 2014 IPO at 140p, Jimmy Choo’s shares initially struggled amid testing global luxury market conditions. However, the equity has since rebounded strongly and the decision to sell looks rather opportunistic, Jimmy Choo perhaps viewing this as the moment to fetch a decent price for the business.
Sell in the open market now, since there’s no guarantee a sale will take place. (JC)
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