Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

BURBERRY GROUP PLC (BRBY)

69
Delayed Quote. Delayed London Stock Exchange - 06/29 11:35:04 am
1587 GBp   -2.58%
06/23 BURBERRY : Snap-happy at paparazzi shoot
06/15 BURBERRY : Christopher Bailey turns to lace for a fine and dandy Bur..
06/12 BURBERRY : Lewis Hamilton on fame, helmet hair and finding his fashi..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Burberry To Invest In Larger Stores As Profit Surges

05/23/2012 | 02:45am US/Eastern

Burberry Group PLC (>> Burberry Group plc) said Wednesday it will invest in opening larger-format stores across its markets to drive further growth, as the luxury clothing and handbag retailer reported a big jump in full-year profit, again boosted by surging demand in Asia.

"We have completed another successful year," said Chief Executive Angela Ahrendts. "While we remain vigilant about the external environment, we will continue... to drive sustained, profitable growth and enduring customer engagement over the long term."

Burberry said it plans a 12% to 14% increase in retail selling space in fiscal 2013, with a focus on larger stores. It added that capital expenditure will be GBP180 million to GBP200 million in the coming year.

The company, famed for its trench coats and plaid-patterned accessories, posted net profit of GBP263.3 million for the year to March 31, compared with GBP208.4 million a year earlier, on revenue 24% higher at GBP1.86 billion at constant exchange rates.

Adjusted pretax profit--the measure of performance watched by analysts--stood at GBP376 million, up from GBP297.9 million, and in line with analyst expectations of about GBP375 million. Burberry raised its dividend 25% to 25 pence.

Burberry has been at the forefront of the worldwide surge in demand for luxury goods in recent years, bolstered by massive sales increases in China, even as many mid-market retailers have struggled for survival amid torrid economic conditions and low consumer confidence.

Luxury retailers have appeared immune to the worldwide economic downturn and Burberry's shares have soared from a low of 154.75 pence in November 2008 to close Tuesday at 1,386 pence, mirroring the fortunes of peers including Prada SpA (1913.HK) and LVMH Moet Hennessy Louis Vuitton (>> LVMH).

-By Peter Evans, Dow Jones Newswires; 44-20-7842-9308; peter.evans@dowjones.com

Stocks mentioned in the article : Burberry Group plc, Burberry Group plc, LVMH
React to this article
Latest news on BURBERRY GROUP PLC
06/24 BURBERRY : Get ready for an october revolution at city airport
06/23 BURBERRY : Snap-happy at paparazzi shoot
06/22 BURBERRY : Mario Testino Gives Burberry a Striking New Look for Fall
06/16 BURBERRY : London men's fashion week offers designer, tailor and high street
06/15 BURBERRY : Christopher Bailey turns to lace for a fine and dandy Burberry show
06/12 BURBERRY : London Designers Take a Breather for Resort 2016
06/12 BURBERRY : Lewis Hamilton on fame, helmet hair and finding his fashion mojo
06/09 BURBERRY : backing Bailey's bonuses
06/09 BURBERRY : Annual Financial Report
06/09 BURBERRY : Pakistani child model to catwalk in London
Advertisement
Chart
Duration : Period :
Burberry Group plc Technical Analysis Chart | BRBY | GB0031743007 | 4-Traders
Income Statement Evolution
More Financials