Burberry Group Plc ADROTCPK - Current
Burberry: Fashion Shows Little Improvement
Timberwolf Equity Research
Timberwolf Equity Research
Mon, Oct. 24, 2:47 PM
- Coach (COH +1.4%) is tracking higher again with the Betaville blog reporting that the company is working with Evercore on a $20B merger with Burberry (OTCPK:BURBY, OTCPK:BBRYF).
- Shares of Burberry spiked higher Friday amid merger speculation, but settled back when other media publications discounted the story.
Fri, Oct. 21, 9:38 AM
- Analysts are already weighing in on the impact of a merger between Coach (NYSE:COH) and Burberry (OTCPK:BURBY, OTCPK:BBRYF) -- even with the deal still only in the speculative stage.
- "A merger of Coach and Burberry would primarily be a merger of problems," notes Exane BNP Paribas analyst Luca Solca.
- "M&A history in luxury has shown that mergers don't obviously help in regaining brand traction and desirability, while cost efficiency in the face of declining brand momentum are often just a way to run in order to stand still," he adds.
- Coach is believed to be working with Evercore on the Burberry deal.
- Previously: Burberry and Coach higher amid merger speculation (Oct. 21)
- Burberry is now up only 3.2% in London.
Fri, Oct. 21, 8:24 AM| Fri, Oct. 21, 8:24 AM
Tue, Oct. 18, 4:31 AM
- Burberry's (OTCPK:BBRYF) Q2 comparable retail sales rose for the first time in four quarters, growing 2% and topping expectations for a 1% increase.
- The luxury fashion retailer was helped by the slump in the pound following the U.K.'s Brexit vote in June, with sales jumping 30% in its home market.
- In addition, Burberry expects an FY forex benefit of at least £125M vs a forecast of £90M at the end of June, just after the referendum.
- However, underlying H2 sales fell 4% to £1.16B, hurt by a fall in wholesale and licensing revenues, as well as weak sales in Hong Kong and the U.S.
- Shares are -6.85% in London. (PR)
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).
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)