Burberry shares plunge as it blames tourist tax for luxury slowdown November 16, 2023 Burberry hit out at the government's decision to scrap the tourist tax and revealed a six per cent loss year-on-year in profit.
Burberry: Designer raincoats remain must-have despite inflation as revenues up 17 per cent July 14, 2023 Designer Burberry reported revenues of £589m during the first quarter of the year, a 17 per cent lift compared to the same period last year, as the luxury brand was boosted by demand for its rainproof trench coats. The British designer, best known for its tartan bags and scarfs, said outerwear comparable store sales were [...]
FTSE 100 close: NatWest lifts after government stake sale as Burberry and JD Sports bump London index May 22, 2023 London’s FTSE 100 started what will be a quiet week in decent style today, driven higher by investors piling into Britain’s largest retailers. The capital’s premier index jumped 0.21 per cent to 7,773.49 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, edged lower to [...]
FTSE 100 close: BT and Burberry slump to bottom of London index as easyJet regains ground May 18, 2023 London’s FTSE 100 kicked higher this today, driven by retailers offsetting a sharp sell off in BT shares after it said it will shed 55,000 workers over the next decade. The capital’s premier index jumped 0.25 per cent to 7,742.29 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]
Burberry boosted by China re-opening as share price darling reports solid growth May 18, 2023 Burberry boss Jonathan Akeroyd said this morning he was “very pleased” with a set of full-year results that saw reported profit up more than 20 per cent year on year. Revenues topped the £3bn mark in the twelve months to the start of April this year, with the fourth quarter given a significant boost by [...]
Burberry: Luxury British brand’s investors hopeful of China spending resurgence May 12, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
FTSE 100 close: Blue chip index ends higher as disappointing retail sales figures fail to dent JD Sports, Frasers and Burberry January 20, 2023 London’s FTSE 100 index closed the week marginally higher, clawing back some some of this year’s earlier gains following a poor performance yesterday. The capital’s premier index climbed 0.3 per cent to 7,770.59 points, while the domestically-focused mid-cap FTSE 250 index rose 0.7 per cent to close at 19,702.63. JD Sports, Frasers and Burberry were [...]
Burberry: China’s covid restrictions flatten sales as Europeans ramp up luxury item spend January 18, 2023 Heavy Covid restrictions in China weighed down sales for luxury British fashion giant Burberry in the third quarter of last year. In the 13 weeks to December, the UK firm reported £756m in retail revenue in its comparable store sales around the world, a one per cent increase on the previous year. Sales in China [...]
FTSE 100 jumps as China zero Covid u-turn sends investors pouring into Burberry January 4, 2023 The prospect of a rebound in Chinese tourism after Beijing dismantles its tough zero-Covid policy has sent luxury fashion firm Burberry to near top of the FTSE 100 today. The more than five per cent share price kick helped drag London’s FTSE 100 index up 0.41 per cent to 7,585.20 points. The gain extends yesterday’s [...]
Burberry tops expectations as luxury consumers continue to flock November 17, 2022 Burberry smashes expectations, as the luxury brand appears to dodge cost of living concerns in Europe and weathers the ongoing pandemic-related restrictions in its largest market, China. Group revenues climbed by 11 per cent to £1.35bn in the half year, beating projections of £1.32bn, while operating profit increased 27 per cent to £263m from the [...]