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...Compagnie Financiere Richemont is engaged in the luxury goods market. Co.'s interests encompass some names such as Cartier, Van Cleef & Arpels, Piaget, Vacheron Constantin, Jaeger-LeCoultre, IWC, Alfred Dunhill, Montblanc and Net-a-Porter. Co.'s luxury goods businesses are separated into four segments: Jewellery Maisons (design, manufacture and distribution of jewellery products), Specialist Watchmakers (design, manufacture and distribution of precision timepieces), Montblanc Maison (design, manufacture and distribution of writing instruments) and Other Businesses (Alfred Dunhill, Lancel, ChloA(c), Net-a-Porter, Purdey, textile brands and other manufacturing entities).
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