Burberry : Q1 unsurprisingly buoyed by Asia and tourist spend
>Comparable growth in line in Q1 at +18%, annual guidance at cc reiterated with, unsurprisingly, a doubling of the negative currency impact - For the first quart of its financial year to 31 March 2024, the group reported retail revenue of £ 589m, i.e. y-o-y growth of 17% reported, +19% at cc and comparable growth of +18% (space growth +1%). We were expecting £ 601m (+20% y-o-y at cc and on a comparable basis) and the Visible Alpha consensus was £ 588m (c.+18% comp.). ...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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