Burberry LSE: BRBY ekskluzywna odzież, perfumy

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LONDON (Reuters) -Luxury brand Burberry said its profit would beat market expectations as its full-price sales accelerated in the third quarter, driven by a strong performance in outerwear and leather goods and a material improvement in Asia and Europe.

The British company, known for its camel, red and black check and TB monogram, said its adjusted operating profit for the year to April 3 would rise by about 35% at constant exchange rates.

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Analysts had expected on average a rise of 19% to 472 million pounds ($642 million), according to a company-compiled consensus.

Full-price comparable store sales were 26% higher than the same period two years ago, Burberry said on Wednesday, while comparable store sales on the same measure were down 3% due to its planned reduction in markdowns.

Chair Gerry Murphy said growth in full-price sales had accelerated from the second quarter, reflecting a higher quality business.

“Despite the ongoing challenges of the external environment, we are confident of finishing the year strongly and providing an excellent platform on which to build when our new CEO Jonathan Akeroyd joins in April,” he said.

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LONDON (Reuters) – 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.

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Burberry (LON:BRBY) stock fell 7.2% after the British fashion brand announced a drop in sales in China, a key market, of 35% in the first quarter.

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In corporate news, Boohoo (LON:BOOH) stock fell 11.7% after the fast fashion retailer cut its full-year forecasts, citing inflation-driven costs and lower sales, while Burberry (LON:BRBY) stock rose 3.5% after the fashion house announced a new Chief Creative Officer, with Daniel Lee, the former creative head of Bottega Veneta set to join the company at the end of this month.

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Burberry (LON:BRBY) traded largely flat after the British fashion house outlined a new design strategy in a long-term bid to boost sales.

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LONDON (Reuters) - British luxury brand Burberry is seeing "very promising" signs in China so far this month after the lifting of strict COVID-19 curbs in the country, Chief Financial Officer Julie Brown said on Wednesday.

She added though that the timing and pace of recovery in China, Burberry's biggest market, was unpredictable.

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Burberry (LON:BRBY) stock fell 6.6% with investors taking profits even after the luxury fashion brand reported an increase in full-year revenue and sales as China rebounds. The stock has gained 16% so far this year.

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On the downside, several luxury brands took a hit in the European market, with Burberry Group down 2.45%, while LVMH Moet Hennessy and Hermes International both experienced a 2.64% decrease.

The downturn in the high-end fashion houses came on the back of the weaker data out of China - a significant market for luxury goods.

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Burberry edged lower even as the luxury fashion brand reiterated its full-year guidance after a resurgent China helped lift first-quarter sales.

Burberry said retail sales in the 13 weeks to 1 July rose 17% to £589m, or by 18% on a like-for-like basis. On a constant exchange rate basis, sales were 19% higher.

Within that, sales in mainland China surged 46%, as the country - one of the world's biggest markets for luxury goods - continued to rebound from stringent Covid lockdowns last year.

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RBC also made several cuts: it reduced Burberry's price target to 1,900 pence from 2,200 pence with a 'Sector perform' rating