Raising Our Burberry Fair Value Estimate Following Third-Quarter Update; Weak Pound Expected to Help
Wide-moat rated Burberry’s fiscal third quarter was solid and puts the firm on track to beat our full-year revenue forecast. Retail segment revenue grew 4% on a reported basis to GBP 735 million. We are raising our fair value estimate to GBP 1,690 from GBP 1,550 after raising our near-term growth assumptions. Our top-line forecast growth has been adjusted for full-year 2017 and 2018. This is primarily based on the transactional benefit from continued  weakness in the pound sterling but also on v...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.
We have operations in 27 countries.
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