After experiencing a difficult 2023, ebbing demand and a slowdown in global economies are set to make 2024 more difficult for luxury brands. In spite of China reopening in early 2023, demand for personal luxury items at constant currency rates dropped down to 8%, just marginally above global inflation, according to Bain, as quoted on Financial Times. This follows a remarkable three-year period of nearly 20% average sales growth.The slowdown in demand is indicative of the substantial downturn in the market. ...

Burberry (LON: BRBY) share price sell-off intensified this week after the company warned about its growth. The stock has crashed in the past four straight weeks and is now hovering at its lowest level since November 2020. It has plunged by more than 51% from its pandemic high, lagging behind other brands like LVMH, Hermes, Kering, and Richemont. This performance is a sign that Burberry is having serious growth concerns. Burberry slowing salesCopy link to sectionThe UK is not doing well as most of its compan ...

British fashion house Burberry on Friday issued its second profit warning in three months, citing weaker-than-expected sales over the Christmas holidays, and sparking the biggest loss for shares in weeks.The London-listed company said a global slowdown in the luxury goods market had resulted in slowing sales over its “key December trading period,” as it slashed profit guidance for the full-year ending in March 2024. Burberry BRBY, -9.56% now expects to generate adjusted profits worth £410-£460 million ($523 ...

Burberry Group PLC (LSE:BRBY) expects full-year results to be below expectations amid “challenging” trading conditions and a “backdrop of slowing luxury demand”. Chief executive officer Jonathan Akeroyd said: “We experienced a further deceleration in our key December trading period and we now expect our full year results to be below our previous guidance.” The luxury goods retailer now expects adjusted operating profit for the financial year to 30 March 2024 to be in the range of £410 million to £460 millio ...

Jared Siskin/Getty Images Entertainment Shares of luxury fashion retailer Burberry (OTCPK:BURBY)(OTCPK:BBRYF) have fallen sharply since I last covered the company back in the summer, with the ADSs delivering a stinging negative 32% total return in that time amid a sharp deceleration in sales growth. Data by YCharts Downgrading to Hold at the time, I felt that macro factors might weigh on the company in the near term. Furthermore, Burberry's relative position in the sector means it is likely to underperf ...

About this content About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business outpu ...

■1 r y LONDON ENGLA 2 presentation 18 May 2022 1 2 | --- | --- | --- | --- | --- | |-------|---------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|------------------------------------------------------------------------------------------------------ ...

LONDON PRELIMINARY RESULTS 2021 13 MAY 2021 | --- | --- | --- | --- | |------------------|---------------------------------------|-----------------------------------|------------------------------| | AGENDA FOR TODAY | | BURBERRY PRELIMINARY RESULTS 2021 | | | 09:30-09:45 | Building the new Burberry | | Marco Gobbetti | | 09:45-10:00 | The next chapter: Growth Acceleration | | Marco Gobbetti | | 10:00-10:20 | Financial results | | Julie Brown | | 10:20-11:00 | Q&A | | Marco Gobbetti / Julie Brown | 1 BUILDI ...

Financial Data and Key Metrics Changes - Total revenue for the fiscal year was £2.3 billion, down 10% year-on-year, with a strong recovery in the second half [57] - Adjusted operating profit was £396 million, a decline of 8%, with a margin improvement to 16.9% [57][68] - Free cash flow increased significantly to £349 million, and the company reinstated a full-year dividend at 2019 levels [58][81] Business Line Data and Key Metrics Changes - Full price sales rose 12% on a two-year comparative basis, indicating strong performance despite markdown reductions [59][62] - Leather goods and outerwear saw double-digit growth in full price sales, contributing to improved average unit retail (AUR) [16][23] - The company successfully reduced markdown volumes, which had a 3% headwind on Q4 comparable sales growth [59] Market Data and Key Metrics Changes - In the Americas, comparable sales grew by 15%, with full price growth reaching 43% [63] - Asia Pacific experienced a 17% growth, with full price sales up 21%, particularly strong in China and Korea [64] - EMEA faced a 44% decline in the fourth quarter due to store closures and reduced tourist travel [65] Company Strategy and Development Direction - The company aims to accelerate growth in the next phase by leveraging its brand to create significant value and focusing on high-quality full price sales [27][28] - Key priorities include building brand advocacy, focusing on core categories, enhancing store performance, and supercharging digital sales [32][40] - The company plans to maintain a strong focus on sustainability and community engagement as part of its growth strategy [29][49] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the brand's repositioning and the strong momentum in full price sales, despite the challenges posed by COVID-19 [22][92] - The company anticipates high single-digit revenue growth from the fiscal '20 base and meaningful margin accretion in the medium term [50][91] - Management highlighted the importance of maintaining operational efficiency and cost control while investing in growth initiatives [48][89] Other Important Information - The company achieved a carbon-neutral footprint across all operations by the end of the year [26] - Significant progress was made in diversity and inclusion, recognized in various indices [26] - The company plans to open 55 new stores in fiscal year '22, primarily in the Asia Pacific region [42] Q&A Session Summary Question: Markdown activity and its future - Management confirmed that markdowns will be phased out from mainline stores over the next couple of years, with significant progress already made [96][97] Question: Profile of new customers - The company is attracting a broad spectrum of new customers, particularly in Asia and the U.S., with strong performance in leather goods and outerwear [99][100] Question: Margin expectations - Management confirmed an ambition for medium-term margins to exceed 20%, driven by gross margin strength and cost control [104][106]

BURBERRY LONDON ENGLAND INTERIM RESULTS 2020 MARCO GOBBETTI chief executive officer 1 AGENDA INTRODUCTION Progress to date FINANCIAL RESULTS STRATEGY AND OUTLOOK Q&A | --- | --- | --- | --- | --- | |-------|-------|-------|-------|--------------------------------| | | | | | HALF YEAR RESULTS | | | | | | | | | | | | Total revenue £878m | | | | | | Adjusted operating profit £51m | | | | | | | | | | | | | 2 MOMENTUM DISRUPTED BY COVID, BUT RAPIDLY RECOVERING % 11% -6% -45% FY19 FY20 FY20 FY21 FY20 FY21 Dec 29 ...