No Surprises From Burberry's First-Half Earning Results; Shares Remain Undervalued
We will make no changes to our GBX 1,550 fair value estimate and our wide moat rating for Burberry following the firm's first-half results. Reported revenue of GBP 1.16 billion, a 4% decrease over the comparable first half a year ago, was anticipated as the firm reported preliminary sales results in October.Reported adjusted profit margins before tax for the first six months was down to 12.5% from 13.7%, including a positive currency impact of GBP 29 million. In the retail/wholesale segment, gr...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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