Burberry Group PLC

Burberry Group Plc operates as a holding company, manufactures, designs and distributes apparels and accessories under the Burberry brand. It operates through the following segments: Retail and Wholesale, and Licensing. The Retail and Wholesale segment sells luxury goods through Burberry mainline stores, concessions, outlets, and digital commerce, as well as Burberry franchisees and department stores. The Licensing segment channel offers global licenses of fragrances, eyewear, timepieces and European children's wear. The company was founded by Thomas Burberry in 1856 and is headquartered in London, the United Kingdom.

Burberry Group has appointed Daniel Lee as its new chief creative officer, replacing Riccardo Tisci, who is stepping down after presenting his final runway show for the British luxury brand on Monday.

Designer Daniel Lee replaces Riccardo Tisci at Burberry

Burberry is not affected by inflation in the same way as other companies due to the Veblen effect. Hence, Burberry is a good addition to your portfolio despite the global cost of living crisis.

Burberry: Inflation And Decoupling From China

Though mainland China was a disappointment due to the disruption from government-imposed health restrictions, the British luxury brand saw comparable store sales advance by 1% in Q1 FY23.

New Lockdowns Pushed Burberry Sales Down By 35% In China

Burberry Group PLC (LSE:BRBY)'s stock is expected to appreciate over the medium term despite the impact of reduced sales in China.   Analysts at investment bank UBS predict that the British design house's stock will lift by about 12% over the next year, giving it a target price of 1,848p with a ‘neutral' rating.

Burberry share wobble is just a blip, says UBS

British luxury brand Burberry said a drop in demand for footwear such as sneakers and slides drove a 4% fall in first-quarter like-for-like sales in the Americas.

Burberry says U.S. demand for sneakers and slides fades

Burberry Group PLC (LSE:BRBY) grew its global turnover by 5% in the first quarter despite “significant disruption from lockdowns in mainland China”, which wiped more than a third off its sales to the region.  "Our focus categories, leather goods and outerwear continued to perform well outside of mainland China and our programme of brand activations boosted customer engagement,” said Burberry chief executive Jonathan Akeroyd.

Burberry says China lockdowns wipe 35% from regional sales revenue

Burberry Group PLC said Friday that comparable sales increased only slightly in the first quarter of fiscal 2023 as they took a significant hit from the effects of Covid-19 restrictions in China.

Burberry's same-store sales rise only slightly due to China's COVID-19 restrictions

British luxury brand Burberry on Friday said its first-quarter comparable store sales rose by 1%, limited by COVID-19 lockdowns in China, its biggest market.

China lockdowns limit Burberry's first-quarter sales growth to 1%

Analysts remain divided about prospects for Burberry Group PLC (LSE:BRBY) (Burberry Group PLC (LSE:BRBY)) ahead of its first-quarter trading update tomorrow. The British fashion brand and retailer is heavily exposed to China's recent Covid-19 lockdowns and its home market in the UK, meanwhile, remains plagued by the cost-of-living crisis.

Burberry's exposure to Chinese market drives down estimates

British luxury fashion brand Burberry is closing its flagship store in Hong Kong in a move that marks the latest in big-name fashion brands that are stepping away from the world's top destination for luxury retail.

Burberry Joins Tiffany, Valentino and Coach in Closing Hong Kong Flagship

Analysts remain divided about prospects for Burberry Group PLC (LSE:BRBY) ahead of its first-quarter trading update next Friday.  The British fashion brand and retailer is heavily exposed to China's recent Covid-19 lockdowns and its home market in the UK, meanwhile, remains plagued by the cost-of-living crisis.

Burberry earnings depend heavily on China lockdowns, cost of living pressures

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Between COVID lockdowns in China and the fallout from surging inflation, luxury goods giant Burberry is facing some near-term challenges. Trading has so far remained robust, with the firm recording record profit in fiscal 2021/22. Management is also making the right long-term moves to enhance the perception of its brand.

Burberry: Near-Term Headwinds Mask Longer-Term Upside

Burberry PLC is ‘navigating uncertain waters well' said Deutsche Bank but it still cut its price target to 1,950p. The broker, whose target price previously was 2,280p, added that the company's brand strength has allowed it to pass on prices to consumers successfully.

Burberry ‘navigating uncertain waters well' says Deutsche Bank

Burberry Group plc (OTCPK:BURBY) Preliminary 2022 Results Earnings Conference Call May 18, 2022 4:30 PM ET Company Participants Gerry Murphy - Chair Jonathan Akeroyd - Chief Executive Officer Julie Brown - Chief Operating and Financial Officer Conference Call Participants Antoine Belge - Exane BNP Paribas Rogerio Fujimori - Stifel Zuzanna Pusz - UBS Kathryn Parker - Jefferies Louise Singlehurst - Goldman Sachs Carole Madjo - Barclays Capital Chiara Battistini - J.P. Morgan Elena Mariani - Morgan Stanley Sarah Butler - The Guardian Jonathan Akeroyd Good morning, everyone.

Burberry Group plc (BURBY) CEO Jonathan Akeroyd on Preliminary 2022 Results - Earnings Call Transcript

Burberry reported record profits for the year ended in April despite taking a recent sales hit from its biggest market, China.

Burberry reports record profit despite a slowdown in its biggest market

The Burberry (LON: BRBY) share price moved sideways after the company published its trading statement. The stock is trading at 1,584p, which is about 2.65% below the highest point this week.

Burberry share price gets undervalued after earnings. Is it a buy?

Burberry Group PLC (LSE:BRBY) said profits and revenue were up in the 2022 financial year, but warned that the outlook for the current year is dependent on COVID-19 recovery in China. For the year ending 2 April 2022, revenue increased to £2.8bn from £2.3bn, while operating profit grew to £543mln from £521mln, with the fashion brand maintaining its guidance of high single-digit revenue growth.

Burberry increases profits but warns outlook dependent on China Covid recovery

Burberry reports improved FY profit of £511 million, but China lockdowns weigh

British luxury brand Burberry said its outlook for the year ahead depended on how quickly China, its biggest market, recovered from COVID-19 lockdowns, after meeting expectations for sales and operating profit for its 2022 financial year.

Burberry says year ahead depends on China recovery

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New Burberry Group PLC chief executive Jonathan Akeroyd will get his first opportunity to strut his stuff in the British fashion house's iconic tartan on Wednesday, having joined from Versace in March. After previous boss Marco Gobbetti announced his departure earlier this year to return to his native Italy and join footwear brand Salvatore Ferragamo, Akeroyd was hired with a £6mln 'golden hello' to cover the forgone bonuses from Versace, which he led for three years.

Burberry's new chief executive will look to cut a dash on Wednesday

Burberry's sales have basically recovered, with the potential for an increase once global tourism fully restarts. A focus on brand building should help profit margins down the line.

Burberry: Attractively Valued Fashion House

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News for Burberry Group PLC Stock (BURBY)