Burberry Group plc
Burberry: 2005/6 results
Not only was Burberry’s growth for the year much lower than in the previous year, but this year should be significantly better as wholesale revenues return to growth.
Retail revenues rose 11%, broadly in line with the expansion in space, and licensing 6%, but wholesale revenues declined 4%. Total underlying sales growth was 3%, with an […]
Burberry: H2 trading statement
Burberry’s sales growth in the second half of 3% (at CER, excluding the effect of acquisitions) was in line with the first half. As in the first half retails sales growth remained strong thanks to expansion, but like-for-like growth is likely (no numbers are disclosed) to have been low. The growth in retail was, again […]
Burberry: Christmas trading statement
Burberry continued its expansion driven growth in retail sales, which rose 11% underlying(at CER and excluding the acquisition of Taiwanese resellers etc.). Given the rate of expansion (a 9% increase over the period, similar levels in the recent past) this is clearly the driver of sales growth and like-for-like growth is likely to be comparatively […]
GUS H1/Burberry demerger
GUS has confirmed that it plans to demerge its 66% stake in Burberry through a distribution of Burberry shares to GUS shareholders, at the same time GUS shares will be consolidated. GUS shareholders will receive approximately 3 Burberry shares and 8.6 new GUS shares for every 10 GUS shares.
We have already covered Burberry’s H1 results, […]
Burberry H1 results
The fall in Burberry’s wholesale revenues has offset most of the (expansion driven) revenue growth in retail. Total revenues were up just 3%. Operating margin was slightly lower if the cost of the cost of investment in what Burberry describes as “infrastructure redesign” is excluded. Including this cost operating profit fell by 2%.
The growth in […]
Burberry H1 trading statement
Although retail sales growth continued at the same rate as in the first quarter (9%) but licensing sales growth fell to 1% (3% after adjusting for the effect of an acquisition) and and wholesale revenues fell 3% (down 1% adjusted).
Retail like-for-like sales numbers are not disclosed, but are likely to have been close to flat. […]
Burberry Q1 trading statement
Burberry’s sales continued to grow, with the level of growth (9%) and the pattern of growth both very similar to last year. Growth in (high margin) licensing revenues was even stronger (up 26%) but Burberry does not expect this strong growth to be sustained.
Growth in Burberry’s retail revenues continues to come largely from expansion. While […]
Burberry full year results
Burberry’s retail sales rose 8% at CER, in line with the expansion is selling space , which implies low LFL sales. Wholesale sales growth was similar (9% at CER) which is a more solid achievement but the best news for the year was a 19% rise in high margin licensing revenues. Licensing generates only 11% […]
Burberry trading statement
Sales growth is slowing but is sufficeint to bring down the PE to reasonable levels over the medium term.
Burberry
Burberry is the owner of the Burberry brand which is now used across a large range of luxury goods. The company retails and wholesales Burberry products as well as licensing the brand to other manufacturers. GUS owns a controlling (66%) share of Burberry.
Sales grew strongly in the first half of the current financial year, […]
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