Burberry outlook uncertain as luxury headwinds mount, say brokers
Interims are due on 16 November and are expected to show sales are slowing
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 results to point out continued hope on China recovery
Burberry will update on first quarter trading next week
Burberry interims and strategy receive a lukewarm response from analysts
The Square Mile is taking a wait-and-see approach to the luxury clothing group
Burberry reports 5% revenue rise boosted by growth in tourism and pick up in Asia
The luxury retailer saw EMEA sales rise 34% as tourist numbers more than doubled, while Asian sales returned to growth in the second quarter compared to a decline in quarter one
Estee Lauder to acquire US fashion house Tom Ford for US$2.8bn
Tom Ford, founder and CEO of the brand, will continue to serve as the brand's creative visionary until the end of next year
Burberry given a boost ahead of its interims
Additionally, the group should receive a boost from easing lockdown measures in China
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FTSE 100 closes lower as defensive stocks weigh but markets have strong week
Britain's blue-chip benchmark finished Friday around 57 points down, or 0.78%, at 7,318
Burberry appoints Daniel Lee as new chief creative officer to replace Riccardo Tisci
Lee had this role at Italy's Bottega Veneta from 2018 to 2021 and also worked at Balenciaga, Celine, Donna Karan and Maison Margiela
Crispin Odey predicts the pound will go lower as he wins big from his short position
While a weak pound is seen as a negative, there are some businesses and people that will view it as a positive
Burberry's operating and finance chief to leave next April
Brown joined Burberry six years ago and is leaving to take up an opportunity outside of the industry
China’s luxury goods glut to have knock-on effect in the UK
China’s Gen Zers continue to sell Rolexes and Hermès handbags, leading to a cheaper secondary market
Burberry share wobble is just a blip, says UBS
Currency arbitrage could drive share price appreciation at the retailer in the year ahead
Burberry says China lockdowns wipe 35% from regional sales
Growth was strongest outside China, which analysts estimate comprises about a third of the retailer’s global business
FTSE 100 closes ahead as traders 'buy the dip' again
Britain's premier share index finished on Friday up around 111 points, or 1.58%, to stand at 7,151
Burberry’s exposure to Chinese market drives down estimates
One third of fashion brand’s business exposed to Chinese retail trends
Burberry earnings depend heavily on China lockdowns, cost of living pressures
Analysts estimate that one-third of Burberry’s business is exposed to the Chinese market
**TEST, DON’T PUBLISH** Burberry ‘navigating uncertain waters well’ says Deutsche Bank
Hold is the broker's view but with a lower price target
Burberry ‘navigating uncertain waters well’ says Deutsche Bank
Hold is the broker's view but with a lower price target
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
Burberry reinstates progressive dividend policy as sales gradually recover
The luxury group expects solid revenue growth in the current financial year
Burberry catches the backlash as China retaliates against Uigher sanctions
China is a huge market for Burberry and the brand is incredibly popular
Burberry upgrades full-year forecasts as trading rebounds
Revenue and adjusted operating profit are expected to be ahead of consensus
Berenberg starts covering Burberry with ‘hold’ recommendation as strategy not resonating with consumer
Analysts say the investment case hinges on the turnaround but there are no signs of momentum yet
Burberry says Brexit makes UK less attractive for luxury shopping
Sales are expected to be hit significantly once coronavirus-related travel restrictions are eased
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US to bring out the inauguration bunting on Wednesday, UK eyes trading updates from Burberry and others
Joe Biden's formal ascent to the US presidency will be dominating the headlines mid-week, however, there will be plenty of updates from the corporate diary to keep UK investors occupied beforehand
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FTSE 100 finishes slightly lower amid thin volumes as Wall Street closed for Martin Luther King Day
Stop watching that documentary on slow-drying paint and check out the London stock market instead
Burberry encouraged by recovery after half-year profit plunge
The fashion designer has seen an improvement in sales in the second quarter but new lockdowns are expected to hit trading
Burberry upgraded to ‘sector perform’ by RBC over recovery path
Analysts believe the fashion designer will beat its second-quarter retail like-for-like estimated fall of 15-20%
Burberry launches coronavirus facemask in brand colours
The new masks cost £90 each and are available in Burberry check and pale blue
Burberry upped to 'hold' as Jefferies says bad luck and bad choices mostly priced in
Despite the upgrade, Jefferies said they expected the luxury brand will “take longer to recover" from its pandemic downturn than some of its "better peers"
Burberry launches first luxury ‘social retail’ store in China
A partnership with Tencent brings social media interactions into a physical retail environment through a dedicated WeChat mini program
Burberry to cut jobs as coronavirus hits sales in Europe and Americas
Sales in mainland China grew in the mid-teens in the first quarter, while in the EMEIA region were down around 75%
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FTSE 100 closes firmly ahead as vaccine hopes boost risk appetite
Footsie finished up almost 113 points, or 1.83%, at 6,292, while the midcap FTSE 250 gained nearly 246 points, or 1.43%, at 17,420
Fashion to the forefront on Wednesday as ASOS and Burberry report; UK inflation data eyed
The clothing firms find themselves potentially facing a spending squeeze as consumers prioritise essential goods amid an economic downturn
Burberry profits drop as it takes coronavirus hit but sees some green shoots in Asia
Cumulative sales in China and Korea since the beginning of April are ahead of the prior year, the group said
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FTSE 100 closes lower as risk-off sentiment persists
Britain's blue-chip benchmark finished down nearly 22 points at 5,993. The intraday low was 5,888. The high was 6,015.
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Burberry, United Utilities to end the week with diverse sets of full-year results
UK retail sales figures for April are also on the agenda
Burberry unlikely to hit growth targets as UBS highlights tourism risk to luxury goods sector
While it did raise its target price for the clothing group, UBS continued to rate the stock at 'sell' and warned an unwillingness of consumers to travel was the “biggest single risk to earnings in the luxury goods sector”
Businesses do their bit as coronavirus pandemic pulls community together
Burberry has re-purposed its coat factory in Castleford, UK to produce personal protection equipment (PPE)
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
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
Investments and investor services
FTSE 100 closes higher on trader hopes of Chinese stimulus
The UK's premier share index finished almost 26 points higher at 7,531, while FTSE 250 gained over 32 points at 19,584
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easyJet tipped to warn on profits amid challenging short-haul airlines market
It looks set to be a busy week of corporate announcements and UK economic data
Luxury goods giant Burberry back in fashion with Goldman Sachs
Burberry shares haven’t enjoyed the kind of rises seen in other luxury goods stocks, which now means it trades at a 20% discount to the sector