Burberry : H1 figures ok, logical guidance from new CEO but still the mountain to climb
>H1 sales and EBIT slightly ahead of expectations, comparable growth at +11% in Q2 - Burberry posted H1 sales of £ 1.345bn, up 5% cc y-o-y (or £ 1.061bn retail, £ 263m wholesale, £ 21m licences) and adjusted EBIT of £ 238m, or a margin of 17.7% (it was 16.2% in H1 of the previous year and would have been 16.3% on constant forex). The company-compiled consensus pre-announcement pointed to sales and adjusted EBIT for H1 of respectively £ 1.323bn and £ 230m, while we f...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.
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