Burberry Group PLC (LSE:BRBY) shares perked up 1.3% on Thursday following a well-received analyst visit to its newly renovated Bond Street flagship store in London.
This was followed by a Q&A session with management for sell-side analysts with CEO Jonathan Akeroyd, newly appointed CFO Kate Ferry and VP of product strategy Helen Davis.
Analysts at Barclays said the key takeaway is that Burberry's newly reopened Bond Street store has been running “ahead of expectations, and that early reception of Daniel Lee's products appears to be positive”.
“We liked hearing that the new creative vision appears to be resonating well with Chinese customers, who particularly like that production of new products has shifted towards Europe from Asia,” the bank said.
But the broker kept an 'equal weight' rating on the stock.
“While we appreciate that early feedback from customers appears positive, and that the brand has been enjoying solid social media momentum thanks to various activations over the past month, we believe it may be too early to turn more positive at this stage,” it said.