British Fashion Brand Burberry's Q1 Comps Jump 18%
Portfolio Pulse from Nabaparna Bhattacharya
Burberry Group Plc reported an 18% YoY increase in comparable store sales in Q1, with growth in all regions except the Americas. Retail revenue rose 16.6% to £589 million, primarily due to recovery in Mainland China. The company opened or refurbished 19 stores during the quarter. Burberry maintained its current-year guidance of high single-digit revenue CAGR from FY20 base, equating to low double-digit growth in FY24. The company's shares are up 0.61% to $27.87.
July 14, 2023 | 3:19 pm
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Burberry's Q1 results show strong growth, particularly in Mainland China, and the company has maintained its current-year guidance. This positive news has led to a slight increase in the company's share price.
Burberry's strong Q1 results, driven by recovery in Mainland China and growth in other regions, indicate a positive outlook for the company. The maintained guidance also shows confidence in future performance. This has likely contributed to the increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100