Burberry Group PLC

Burberry Group PLC (LSE: BRBY) is an FTSE 100 index-listed global luxury goods manufacturer, retailer, and wholesaler. The Company also licenses third parties to manufacture and distribute products using the Burberry trademarks.

Q1 FY24 Trading Update (Released on 14 July 2023)

• Improved Revenue: The retail revenue increased by 17% to GBP 589 mn in Q1 FY24 as compared to GBP 505 mn in pcp, primarily driven by the demand in Mainland China.
• Comparable Store Sales: The group witnessed an uptick of 18% in comparable store sales during Q1 FY24 against 1% growth in Q1 FY23. The core categories of outwear sales increased by 36% whereas the leather products outperformed by 13%, and the majority of the regions which reported an increase in comparable store sales were Group Ex Mainland China by 11%, EMEA by 17%, and Japan by 44%, etc.
• Outlook: The management expects a higher single-digit revenue CAGR from FY20 and a currency headwind of GBP 150 mn whereas the adjusted operating profit is estimated approx. GBP 70 mn in FY24. The group anticipated a total revenue of GBP 4 bn in FY24.
• Share buyback: The group initiated a share buyback of GBP 400 mn, which is expected to last till the end of December 2023.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Burberry Group PLC (LSE: BRBY) was trading at the closing market price of GBX 2,088.00 (as of 17 July 2023)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 17 July 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.

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