Wed, Jul. 20, 7:01 AM
Wed, Jul. 13, 2:20 PM
- Burberry (OTCPK:BURBY, OTCPK:BBRYF) updated on sales and issued a warning on revenue potential due to broad weakness in key areas.
- The company expects six-month revenue through September 30 to be down at a double-digit rate from last year after experiencing a flat FQ1 (ended June 30). Retail revenue was up 4% at constant currency for the quarter.
- Comparable sales were down 3%.
- F/X is working in the favor of the retailer, but demand from the Asia-Pacific continues to be disappointing.
- Burberry ended higher in London trading and the U.S. ADRs are up today as well.
- Burberry Q1 trading update
Wed, Jul. 13, 7:00 AM
- Burberry Group Plc ADR (OTCPK:BURBY) reports retail comparable sales fell 3% in FQ1.
- Retail revenue grew 4% on a constant currency basis to £423M, net new space contributed 3% of growth during the quarter.
- Total licensing revenue for FY2017 is estimated to be down by £20M on a constant currency basis.
- In FY2017, net new space is expected to contribute low single-digit percentage growth to total retail revenue.
Mon, Jul. 11, 10:02 AM
- Burberry (OTCPK:BURBY, OTCPK:BBRYF) announces that Marco Gobbetti will replace Christopher Bailey at the CEO position. Gobbetti will leave his post as head of the French luxury brand Celine.
- The company also hired Julie Brown to take over the CFO role from Carol Fairweather. Brown was working as the CFO at Smith and Nephew.
- The retailer has been under pressure this year, due largely to sales pressure in China. The recent Brexit vote is also seen as a new challenge. Burberry was up 6% in London trading at last check.
Tue, Jul. 5, 2:43 PM
- Full-price sales of luxury items have dropped sharply since the Brexit vote came in. Data-tracking firm Edited reports global luxury sell outs decreased 60% in the two weeks after the Brexit referendum, compared to the two-week period prior to the vote.
- The sector was already having a challenging year due a drop in Chinese tourism before the shock U.K. result.
- Luxury retailers: Gucci (OTC:PPRUF, OTCPK:PPRUY), Louis Vuitton (OTCPK:LVMUY), Coach (NYSE:COH), Ralph Lauren (NYSE:RL), Michael Kors (NYSE:KORS), Burberry (OTCPK:BURBY), Tiffany (NYSE:TIF), LVMH (OTCPK:LVMHF, OTCPK:LVMUY), Richemont (OTCPK:CFRUY, OTCPK:CFRHF), Remy Cointreau (OTCPK:REMYF, OTCPK:REMYY).
Fri, Jun. 10, 7:54 AM
- Burberry (OTCPK:BURBY) says COO John Smith will leave the company in the summer of next year to pursue other interests. Smith has been at Burberry for seven years.
- Pressure has increased on senior management at the British fashion house with sales slumping in key regions.
- Previously: Steep pay cut for Burberry CEO (June 6)
Mon, Jun. 6, 8:49 AM
Wed, May 18, 9:04 AM
Wed, May 18, 8:09 AM
- Shares of Burberry (OTCPK:BURBY) are lower after the company reported a drop in pretax profit of about 10% and lowered guidance for FY17.
- Weak sales of luxury items from Asia to North America has hit the company along with some cost inflation.
- Looking ahead, Burberry plans to make significant changes to reduce expenses and complexity, including an elimination of about 20% of its products.
- Burberry is down 5.34% in London trading at last check.
- Previously: Burberry Group Plc ADR reports preliminary FY16 results (May 18)
Wed, May 18, 6:02 AM
Thu, Apr. 14, 8:42 AM
- Burberry Group Plc ADR (OTCPK:BURBY): 2H16 Revenue of £1.41B (-0.7% Y/Y).
- Comp sales declined 2% reflecting continued growth in mainland China, Korea and Japan; up 1% in excl. Hong Kong and Macau in H2.
- FY17 Outlook: Retail: In FY17, net new space is expected to contribute low single-digit percentage growth to total retail revenue.
- Wholesale: Burberry expects total wholesale revenue at constant exchange rates in the six months to 30 September 2016 to be down by around 10%.
- Licensing: Total licensing revenue for FY 2017 is planned to be down by about £20M at constant exchange rates (FY 2016: £42m).
- Press Release
Tue, Mar. 8, 3:41 AM
- A mystery investor has built up a stake of close to 5% in Burberry, FT reports, prompting Britain's best-known luxury fashion brand to arm itself against a possible takeover bid by seeking help from its financial advisors.
- A source close to the company said it had unsuccessfully attempted to reveal the client by asking HSBC, which is listed as the custodian for the position.
- Burberry shares +5.8% in London.
- Previously: Burberry playing defense against takeover bid (Mar. 07 2016)
Mon, Mar. 7, 3:28 PM
- Burberry (OTCPK:BURBY) is looking to protect itself from a hostile takeover, sources tell Financial Times. The company has tasked Morgan Stanley and Robey Warshaw in helping it play defense.
- An undisclosed investor has reportedly built up a stake of around 5% in the British fashion brand.
- Shares of Burberry ADRs are up 9%. The stock closed lower in London trading earlier before the report broke.
Tue, Feb. 9, 3:39 PM
Mon, Jan. 18, 11:02 AM
- Goldman Sachs sees 20% upside for select European luxury stocks as a bottoming out of earnings takes hold this year and fundamentals improve.
- Despite a forecast for global luxury sales growth to slow to 3.4% in 2016, the investment firm thinks some improving trends could lead to share appreciation.
- LVMH-Moet Hennessy (OTCPK:LVMHF) is upgraded to Buy from Neutral.
- Kering (OTC:PPRUF, OTCPK:PPRUY) is moved to Neutral after being slotted at Sell.
- Other names to watch for gains include Burberry (OTCPK:BURBY, OTCPK:BBRYF), Montcler (OTCPK:MONRF), and Salvatore Ferragamo (OTCPK:SFRGF, OTCPK:SFRGY).
Oct. 15, 2015, 6:20 PM
- Burberry (OTCPK:BURBY -7.5%) has named Wal-Mart Asia veteran Fumbi Chima as its new chief information officer, and charged with her with a number of initiatives including the upgrade of its platform with SAP.
- The company had rearranged its IT infrastructure this summer, combining inventory data for online and physical sales in China. But China's volatility has also been the source of Burberry woes as it affects high-end fashion buying.
- Shares tumbled 10.2% in London today as Burberry noted a slowdown in same-store sales to 1% in the first half, down from a year-ago 10%. The blame fell on lower spending in Hong Kong and mainland China, as well as a strong pound cutting tourist spending in the UK.
- Previously: China devaluation hits select consumer goods and services stocks (Aug. 11 2015)
Burberry is a global luxury brand with a distinctive British heritage, core outerwear and large leather goods base and some of the most recognised icons in the world. Burberry designs and sources apparel and accessories, selling through a diversified network of retail (including digital),... More
Sector: Consumer Goods
Industry: Apparel Stores
Country: United Kingdom