Burberry ‘navigating uncertain waters well’ says Deutsche Bank
Hold is the broker's view but with a lower price target
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 increases profits but warns outlook dependent on China Covid recovery
Revenue growth was delivered “despite a continuing challenging external environment”
Burberry's new chief executive will look to cut a dash on Wednesday
In an January update, the board stuck to its medium-term guidance for high single-digit top line growth and said it expects adjusting operating profit for the year to grow 35%
Burberry sees operating profit jump 35% despite ‘ongoing challenges’
The company sticks with its medium-term guidance for high single-digit top line growth
Reaction to Burberry update a bit harsh, says City analyst
Shares in the luxury designer dropped as low as 9% earlier on Thursday
Burberry says revenues back to pre-pandemic levels as full-price sales drive profits up
The luxury designer is on track to become carbon neutral and source 100% renewable electricity across its own operations by early 2022, and at COP26 in Glasgow this month it announced a new biodiversity strategy
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Burberry and WH Smith set for spotlight on Thursday
Burberry Group Plc and WH Smith are among the notable names in the diary for Thursday.
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Retailers to dominate coming week with Burberry, M&S, Primark owner AB Foods, WH Smith on the schedule
Aviva, AstraZeneca and Persimmon will also be big names on the corporate calendar
Burberry poaches chief executive from Italian rival Versace
Fashion industry veteran Jonathan Akeroyd is replacing Marco Gobbetti
Is Burberry still a 'sell'? UBS weighs in
The luxury designer is trading at a historical high relative discount to its peers and will be headed by new management soon
Potential Chinese slowdown likely to weigh on luxury sector, says broker
Chinese consumers accounted for 35% of luxury goods sales in 2019 and 28% in 2020
Major fashion brand Philipp Plein to accept crypto in world first
The Swiss-based brand, named after its German designer, will accept 15 digital currencies including Bitcoin and Ethereum and its physical stores and online
Burberry sales bounce back strongly though a third of stores still on reduced hours
Sales trends are encouraging but some investors are worried that chief designer Riccardo Tisci could leave
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FTSE 100 closes lower over growing fears around COVID-19 variants impeding economic growth
There are reports that the Chancellor of the Exchequer may delay the budget until next year
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Burberry and Rio Tinto updates the key news for Friday
There may also be eyes on the macro diary with the latest US retail sales figures due at the end of the week
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FTSE 100 closes a tad higher after late rally as Sajid Javid confirms most lockdown restrictions will be lifted on July 19
At the close, the UK blue-chip index was 3.54 points, or 0.05% higher at 7,125.42, below the late session peak of 7,134.87 but well above the session low of 7,066.20
Burberry’s business trajectory unchanged despite CEO departure, says Deutsche Bank
“We believe new management in 2022 would potentially not need to materially change the strategy and would find a clean situation", analysts said
Burberry may be target for bidders as chief executive leaves
The trenchcoat designer may become a target even if sales have improved recently
Burberry chief executive jumps ship to join rival
Marco Gobbetti said he wants to move back to Italy to be closer to family
Bumpy day, but is Burberry still a long-term winner?
The shares closed the day down 4.2% and were off almost 9% earlier in a roller coaster session