Burberry Group (BRBY)

Sector:

Personal Goods

Index:

FTSE 100

1,824.00p
   
  • Change Today:
    -20.50p
  • 52 Week High: 2,264.00p
  • 52 Week Low: 1,356.00p
  • Currency: UK Pounds
  • Shares Issued: 404.88m
  • Volume: 676,298
  • Market Cap: £7,385m
  • RiskGrade: 142

Burberry sales fall but Rashford boosts full-price trading

By Sean Farrell

Date: Wednesday 20 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Burberry sales fell in the third quarter as the impact of Covid-19 and fewer price cuts offset strong sales of full-price items boosted by its association with footballer Marcus Rashford.




Retail revenue fell 4% to £688m in the three months to the end of December as coronavirus-related store closures averaged 7%. Comparable store sales fell 9% as Burberry reduced markdowns but full-price sales rose at a "high single-digit" pace.

The FTSE 100 fashion brand said full-price sales were driven by new, younger customers and repeat purchases, helped by a successful festive campaign featuring Marcus Rashford, the Manchester United player who campaigns against child poverty in the UK.

The company said 15% of its branches were closed with 36% operating with reduced hours. Digital full-price sales rose by more than 50% with growth stronger in China. Burberry said fourth-quarter performance would show continued progress.

Sales in the Asia Pacific region rose 11% with strong growth in Mainland China and Korea but sales in Europe, the Middle East and other markets dropped 37% because of store closures and fewer tourists. Sales in the Americas dropped 8% as fewer markdowns more than offset a "mid-teen" rise in full-price purchases.

Burberry shares rose 5% to £18.25 at 08:28 GMT and were the biggest gainers in the FTSE 100 index.

The luxury clothing maker was attempting to overhaul its business when the Covid-19 pandemic struck, initially hammering sales in China, its biggest market, and other Asian countries. Chief Executive Marco Gobbetti is revamping collections to appeal to younger customers and reducing Burberry's reliance on price reductions.

The company said: "We expect trading will remain susceptible to regional disruptions as we close the financial year. In terms of full year trading, notwithstanding any incremental lockdowns, we expect gross margins to benefit from positive full-price, regional and channel mix and lower stock provisions. Cost savings are currently running in line with plan and we are on track to see inventory below last year's levels."



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Burberry Group Market Data

Currency UK Pounds
Share Price 1,824.00p
Change Today -20.50p
% Change -1.11 %
52 Week High 2,264.00p
52 Week Low 1,356.00p
Volume 676,298
Shares Issued 404.88m
Market Cap £7,385m
RiskGrade 142

Burberry Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.32% above the market average0.32% above the market average0.32% above the market average0.32% above the market average0.32% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
55.53% below the market average55.53% below the market average55.53% below the market average55.53% below the market average55.53% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average
Income Not Available
Growth
16.10% above the market average16.10% above the market average16.10% above the market average16.10% above the market average16.10% above the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average

What The Brokers Say

Strong Buy 7
Buy 0
Neutral 13
Sell 0
Strong Sell 1
Total 21
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Burberry Group Dividends

  Latest Previous
  Final Interim
Ex-Div 01-Jul-21 19-Dec-19
Paid 06-Aug-21 31-Jan-20
Amount 42.50p 11.30p

Trades for 24-Sep-2021

Time Volume / Share Price
16:39 17 @ 1,824.00p
16:39 99 @ 1,824.00p
16:39 215 @ 1,824.00p
16:38 1,598 @ 1,824.00p
16:35 337,549 @ 1,824.00p

Burberry Group Key Personnel

CEO Marco Gobbetti
Chair Gerry M Murphy

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