Burberry : Retail growth remains below the sector average
>FY sales and adjusted EBIT hold no major surprises, Q4 retail sales up +7% y-o-y and l-f-l - The group reported FY sales of £ 2,826m and adjusted EBIT of £ 523m (margin at 18.5% with an adjusted gross margin of 70.6%), while we had forecast £ 2,810m and £ 509m (margin 18.1% with a gross margin at 70%), the pre-publication FactSet consensus was £ 2,830m and £ 521m and the previous indication provided by the group (growth of +35% y-o-y at cc) suggested adjusted EBIT ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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