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0 · Burberry stocks going down
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Burberry said: “If the weaker demand continues, we are unlikely to achieve our previously stated revenue guidance for 2024.” Analysts’ consensus for annual group revenue stands at £3.2bn. Adjusted operating profit could land at the “lower end” of the consensus range, the company said. As a result of all the downbeat news, Burberry’s shares fell 9.8 percent to close . Instead, Burberry shares have slid 40 per cent since the start of January as the Covid-19 pandemic led to a sharp sales downturn and the .
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The problem is that mid-market luxury companies such as Tapestry and Capri trade at a discount of 15-20 per cent compared to high-end groups. Burberry’s valuation had already . The British fashion brand announces plummeting profits, with particularly poor sales reported in China. Burberry has recorded a 40% slide in its pre-tax profits for the financial year ending on. Turning around Burberry is taking longer than planned, despite navigating the Xinjiang cotton scandal with “limited” impact. The shares fell as much as 8.9 per cent in . Kym Illman/Getty Images. LONDON – Burberry is taking drastic action in response to the ongoing slowdown in luxury spending, ousting its chief executive officer Jonathan .
Burberry has blamed the global luxury slowdown — and especially weak demand in China and the US — for a fall in its full-year revenue and profits. The British brand warned .
PARIS, Nov 17 (Reuters) - The slowdown in the luxury market following a post-pandemic boom could not come at a worse time for Burberry (BRBY.L), with designer Daniel Lee's first styles .Our longer-term ambition is to develop Burberry into a £5 billion revenue brand. This will drive significant operating leverage, increasing our adjusted operating profit margin well above 20%. . Burberry said: “If the weaker demand continues, we are unlikely to achieve our previously stated revenue guidance for 2024.” Analysts’ consensus for annual group revenue stands at £3.2bn.
Adjusted operating profit could land at the “lower end” of the consensus range, the company said. As a result of all the downbeat news, Burberry’s shares fell 9.8 percent to close at 15.74 pounds. Instead, Burberry shares have slid 40 per cent since the start of January as the Covid-19 pandemic led to a sharp sales downturn and the temporary closure of more than half its stores. The problem is that mid-market luxury companies such as Tapestry and Capri trade at a discount of 15-20 per cent compared to high-end groups. Burberry’s valuation had already diverged from that . The British fashion brand announces plummeting profits, with particularly poor sales reported in China. Burberry has recorded a 40% slide in its pre-tax profits for the financial year ending on.
Turning around Burberry is taking longer than planned, despite navigating the Xinjiang cotton scandal with “limited” impact. The shares fell as much as 8.9 per cent in London trading on Thursday.
Kym Illman/Getty Images. LONDON – Burberry is taking drastic action in response to the ongoing slowdown in luxury spending, ousting its chief executive officer Jonathan Akeroyd, replacing him. Burberry has blamed the global luxury slowdown — and especially weak demand in China and the US — for a fall in its full-year revenue and profits. The British brand warned that the challenges are expected to persist in the first half of its 2025 fiscal year.PARIS, Nov 17 (Reuters) - The slowdown in the luxury market following a post-pandemic boom could not come at a worse time for Burberry (BRBY.L), with designer Daniel Lee's first styles for the.
Our longer-term ambition is to develop Burberry into a £5 billion revenue brand. This will drive significant operating leverage, increasing our adjusted operating profit margin well above 20%. Building on a very strong platform, we have identified opportunities across the business to unlock growth. The key elements of our plan are as follows:
Burberry said: “If the weaker demand continues, we are unlikely to achieve our previously stated revenue guidance for 2024.” Analysts’ consensus for annual group revenue stands at £3.2bn. Adjusted operating profit could land at the “lower end” of the consensus range, the company said. As a result of all the downbeat news, Burberry’s shares fell 9.8 percent to close at 15.74 pounds.
Instead, Burberry shares have slid 40 per cent since the start of January as the Covid-19 pandemic led to a sharp sales downturn and the temporary closure of more than half its stores. The problem is that mid-market luxury companies such as Tapestry and Capri trade at a discount of 15-20 per cent compared to high-end groups. Burberry’s valuation had already diverged from that . The British fashion brand announces plummeting profits, with particularly poor sales reported in China. Burberry has recorded a 40% slide in its pre-tax profits for the financial year ending on. Turning around Burberry is taking longer than planned, despite navigating the Xinjiang cotton scandal with “limited” impact. The shares fell as much as 8.9 per cent in London trading on Thursday.
Kym Illman/Getty Images. LONDON – Burberry is taking drastic action in response to the ongoing slowdown in luxury spending, ousting its chief executive officer Jonathan Akeroyd, replacing him. Burberry has blamed the global luxury slowdown — and especially weak demand in China and the US — for a fall in its full-year revenue and profits. The British brand warned that the challenges are expected to persist in the first half of its 2025 fiscal year.PARIS, Nov 17 (Reuters) - The slowdown in the luxury market following a post-pandemic boom could not come at a worse time for Burberry (BRBY.L), with designer Daniel Lee's first styles for the.
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