Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Burberry has reported a very strong set of results, with revenue, profit, margins, free cash flow and dividends all heading in the factual direction. China’s reopening has certainly helped to fuel demand for its products, but it isn’t solely reliant on that region to finish well.
Chief executive Jonathan Akeroyd and designer Daniel Lee are trying to refocus on ‘Britishness’ to assist support the brand distinctive from what is now a highly competitive market globally.
AJ Bell’s Russ Mould said: “Having a wealthy clientele is an advantage in the current economic climate as Burberry’s typical customer is going to be less affected by the rising cost of living than someone whose pay packet is almost entirely gobbled up by bills and everyday essentials.
“However, that doesn’t mean Burberry is immune from an economic downturn. We’ve seen in recent months signs of cracks in the luxury goods market. Diamond prices acquire been falling, so too the value of second-hand luxury watches as the market is flooded with supply.
“The fact Burberry hasn’t lifted its guidance for the novel financial year after reporting such a strong set of results, and reference to it being ‘mindful’ of the macroeconomic and geopolitical environment, appear to acquire been the trigger for some investors to grasp profits in the stock, with the share price falling more than 6% on the latest news.
“Investors want companies to consistently beat expectations and if they can’t finish that, they will inspect elsewhere in the current market.”
