Burberry turns trench coat factory into protection equipment manufacturing site during coronavirus crisis
The group's board of directors have also taken a voluntary 20% pay cut from April to June, with the equivalent cash to be donated to charity
Company
Burberry Group PLC
LON:BRBY
Burberry Group designs, sources, manufactures and distributes luxury mens, womens and childrenswear and non-apparel accessories globally through its own retail stores, concessions and wholesale customers. Burberry also licenses third parties to manufacture and distribute products using the Burberry trademarks. The Company's non–apparel offerings include handbags, soft accessories, such as scarves, small leather goods, shoes, belts and jewellery.
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Burberry target price slashed to 912p by UBS over expected hard coronavirus hit
Analysts do not expect a strong uptick in demand once the pandemic is over, while inventory will have to be heavily discounted
Burberry weak as sales collapse as coronavirus lock downs hit Europe and the US
In total, around 40% of the luxury good chain's stores are closed
Burberry downgraded to ‘sell’ as UBS says brand momentum ‘weakening’ amid coronavirus crisis
The Swiss bank said the share price was pricing in gains that they said were “unachievable given limits to cost cutting and the need to ramp up brand investments”
Burberry target price trimmed by Jefferies after coronavirus warning
Analysts said the luxury brand's exposure to Asia, which accounted for 40% of its revenues last year, implied “a greater risk” to incomes due to its large local presence
Coronavirus could cause worst growth slowdown since 2008 crash, warns UBS
The Swiss bank has predicted that the slowdown will be similar to that caused by the 1997 Asian financial crisis
Burberry shuts over a third of China stores amid coronavirus disruption
The closures hit sales in China and Hong Kong while spending of Chinese customers in tourist destinations has suffered less
Market “concerned” over Burberry as Michael Kors owner books US$100mln coronavirus hit
Capri, which also owns Versace and Jimmy Choo, said the impact on revenues could be greater if the situation gets worse
Burberry a bargain due to coronavirus, reckons Lindsell Train's Nick Train
“We think its best years are still ahead and the shares become a buy on periodic scares about China,” the stock picker said
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FTSE 100 closes higher as markets bounce back despite Coronavirus crisis
Britain's blue-chip benchmark finished over 70 points higher at 7,482
China could end up spoiling the show for Burberry
A trifecta of political unrest in Hong Kong, US trade war tensions and the coronavirus outbreak are all threatening to upset one the luxury brand's crucial markets
Burberry Group ups guidance after new lines sell well
Revenue for the year to March is expected to grow by a low single-digit percentage, as opposed to flat sales anticipated in November’s interim results
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FTSE 100 closes lower, hit by strong pound after CBI data
The midcap FTSE 250 though gained over 17 points to finish at 21,782.
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Burberry to hit the catwalk on Wednesday with quarterly update
The luxury goods firm is in the second year of chief executive Marco Gobbetti's plan to shift the brand further upmarket under new creative director Riccardo Tisci
Burberry, ASOS and Dixons join retail roll-call; data eyed for BoE cues
The coming week will also see updates from easyJet, Sage, Fevertree, Wetherspoons and Marston's
Burberry profits slip as Hong Kong teeters
The FTSE 100 luxury brand said its adjusted operating profit fell 4% to £187mln compared to the same period last year, thanks to lower margins and disruption in Hong Kong
Burberry's catwalk turnaround still required, while UK retail sales growth could be grim
Updates are also due from property developer Great Portland Estates and transport firm FirstGroup on Thursday
Burberry tops first-quarter forecasts amid “excellent” response to Tisci’s debut collection
There was also some good news in China, where sales grew by a mid-teens percentage
Investments and investor services
FTSE 100 closes higher as the weaker pound boosts UK benchmark
The UK's premier share index finished around 45 points higher, at 7,577
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Rio Tinto, Experian and Burberry all due to update the market on Tuesday
There’s a bit more for investors to get their teeth into on Tuesday