Report
Jean Danjou

Burberry : La réorientation vers l’ADN historique de la franchise fait sens à ce stade mais ne garantit pas le succès à terme

>Résultats S1 en perte comme attendu. Un programme de 40 M£ d’économies de coûts a été lancé dont 25 M£ effectifs sur le S2 - Le groupe avait indiqué lors de la publication du CA retail T1 (-21% en comp.) qu’il envisageait désormais une perte opérationnelle sur le semestre sur la base d’une activité retail attendue toujours en fort recul au T2. La publication surprend peu : le CA S1 sort à 1086 M£ avec un EBIT ajusté à -42 M£, nous attendions 1077 M£ et -35 M£ et le ...
Underlying
Burberry Group plc

Burberry Group designs, makes, sources and sells luxury products under the Burberry brand. Co.'s products are for women, men and children and include apparel, accessories, and beauty. Co.'s products are sold globally through its directly operated store network and online at Burberry.com, as well as through franchisees and third-party retailers, both offline and online. In a few selected areas such as Eyewear and Beauty, Co. uses the product and distribution capability of licensing partners. Co. operates in three regions: Asia Pacific; Europe, Middle East, India and Africa; and Americas. As of Mar 31 2017, Co.'s store portfolio had 469 directly-operated stores and 48 franchise stores.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Jean Danjou

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