RCG on upgrade path after acquisition

RCG has surged to a record high on expectations brokers will upgrade the stock following two business acquisitions.

Footwear retailer RCG Corporation (RCG) surged to a record high on expectations of broker earnings upgrades following news that the group has acquired two businesses.

Management has upped its 2013-14 full year earnings per share (EPS) growth guidance to 15% from 10% after it bought the Saucony wholesale and distribution business and the Podium Sports retail chain.

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Brendon Lau

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