Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Burberry Profit Steady Awaiting New Collections in Stores

The British fashion house expects revenue growth after positive feedback on products by Riccardo Tisci.  
Source: Shutterstock
By
  • Reuters

LONDON, United Kingdom — Burberry reported broadly flat full-year revenue and profit on Thursday and said it expected similar this year as it sets the foundations for growth with more products by Riccardo Tisci in stores.

The company reported revenue of £2.72 billion (around $3.49 billion), down 1 percent at constant exchange rates, and adjusted operating profit of £438 million (around $562 million), for the year ended March 30, flat on the same basis compared with the year before.

Chief Executive Marco Gobbetti said the reaction from customers to Tisci's first collection had been "very encouraging" since it hit stores from the end of February.

"The implementation of our plan is on track, we are energised by the early results and we confirm our outlook for fiscal year 2020," he said.

ADVERTISEMENT

Burberry said there would be a more pronounced weighting of operating profit in the second half relative to the first this financial year.

It is rationalising its distribution in the United States to ensure the brand is in the right stores, hitting its financial results in the short term.

But it said it expected growth to be re-established in the second half as Tisci's collections build through the year.

The company increased its full-year dividend by 3 percent to £0.43 (around $0.55) a share and it announced a £150 million (around $192 million) share buyback.

WF6AKN4F5RCK7OJGVWGZOCNOSQ

By Paul Sandle; editors: Alistair Smout, Mark Potter.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

The Best of BoF 2023: Diversity’s Litmus Test

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.


The Year Ahead: The Future of Fashion Deal-Making

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.


The Investment Giant Behind Some of Fashion’s Biggest Deals

L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections