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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Burberry Group plc    BRBY   GB0031743007

Delayed Quote. Delayed  - 09/27 05:35:05 pm
1403 GBp   -0.43%
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Burberry Sales Rise, Hints at Asian Slowdown

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07/11/2012 | 08:42am CEST

By Peter Evans

LONDON--U.K. luxury retailer Burberry Group PLC (>> Burberry Group plc) Wednesday reported a rise in first-quarter revenue, boosted by its men's tailoring division, although sales growth slowed significantly in the face of challenging conditions.

"With continued brand momentum, Burberry has delivered a robust first quarter," Chief Executive Angela Ahrendts said in a statement. "We continue... to drive long-term sustainable growth, while remaining responsive to the changing external environment."

Burberry, famed for its trench coats and plaid-patterned accessories, posted revenue of 408 million pounds ($633 million) for the three months to June 30, up 11% at constant currencies on the same period last year and broadly in line with market expectations.

However, sales growth slowed from 34% in the same period last year, notably in the Asia-Pacific region, where growth dropped to 18% from 67%.

Luxury retailers have appeared immune to the worldwide economic downturn in recent years, with sales driven by gains in emerging markets and from tourists buying luxury goods in Europe. Burberry's share price has rocketed since 2008, when the global recession began, mirroring the performances of peers including Prada SpA (1913.HK) and LVMH Moet Hennessy Louis Vuitton SA (>> LVMH).

But some analysts have questioned the sustainability of the luxury bubble, especially in Asia, where recent data from China has hinted at an economic slowdown.

Burberry's shares closed Tuesday at 1284 pence, giving it a market value of GBP5.64 billion.

Write to Peter Evans at peter.evans@dowjones.com

Stocks mentioned in the article : Burberry Group plc, LVMH
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Financials ( GBP)
Sales 2017 2 689 M
EBIT 2017 408 M
Net income 2017 292 M
Finance 2017 435 M
Yield 2017 2,66%
P/E ratio 2017 21,36
P/E ratio 2018 19,29
EV / Sales 2017 2,15x
EV / Sales 2018 2,05x
Capitalization 6 211 M
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Mean consensus HOLD
Number of Analysts 30
Average target price 13,4  GBP
Spread / Average Target -4,6%
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Managers
NameTitle
Marco Gobbetti Chief Executive Officer
Christopher Bailey President, ED & Chief Creative Officer
John Wilfred Peace Chairman
Julie Brown Chief Operating & Financial Officer
Fumbi Chima Chief Information Officer
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