Loading...
Loading...
- British luxury brand Burberry Group ADR BURBY reported its second-quarter FY23 comparable store sales growth of 11%.
- The progress happened due to increased tourist spend.
- The brand reported first-half revenue of £1.35 billion, a 5% Y/Y increase in constant exchange rates, and 11% on a reported FX basis.
- Adjusted operating profit for the period climbed 6% at CER to £238 million.
- Chief Executive Officer Jonathan Akeroyd presented the strategy for the next phase for Burberry, including a target to double sales of leather goods, shoes, and women's ready to wear.
- "Burberry has an extraordinary legacy, a unique British heritage and a very strong platform to build on, as shown in our half-year results," said Akeroyd.
- The strategy also aims to refocus on Britishness and strengthen the connection with British design, craft and culture.
- Price Action: BURBY shares closed lower by 2.82% at $23.23 on Wednesday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in