Stock Groups

Burberry lifts profit guidance after full-price sales accelerate -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Shoppers pass a Burberry store in Zurich as COVID-19 spreads. This was on December 11, 2021. REUTERS/Arnd Wiegmann

LONDON (Reuters] – Luxury brand Burberry announced that its profit will surpass the market’s expectations. Its full-price sale growth was accelerated by strong sales in outerwear, leather goods and material improvement in Asia.

At constant exchange rates, the British company claimed that its adjusted operating profits for the year ended April 3, would be up by around 35%

According to company consensus, analysts had predicted an average 19% increase to 472 millions pounds ($642million).

Burberry reported Wednesday that comparable full-price store sales rose 26% compared to the period of two years prior, and comparable store sales in the same area were down by 3% as a result of its plan for reducing markdowns.

($1 = 0.7353 pounds)

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]