Burberry : The jury’s still out on the growth outlook
>Retail revenue growth still lacklustre at +7% l-f-l y-o-y in Q3 but the FY EBIT outlook is improving - Burberry's Q3 retail revenues came in at £ 723m, or growth y-o-y cc of +8%, which is slightly above the Visible Alpha consensus at £ 718m (we were more optimistic at £ 733m). L-f-l (adjusted for the effects of new selling space), this figure equates to y-o-y growth of +7% and a two-year trend of -3% whereas the previous quarter was at +6% y-o-y and +0% on a two-year...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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