The British luxury house unveiled a good fourth quarter, closed on April 1, buoyed by the rebound in the Chinese market. The London Stock Exchange fell in the wake.
Burberry started 2023 well. But the revelation yesterday Thursday of its good performance in the fourth quarter of its 2022-2023 fiscal year (closed on April 1) did not prevent its share price from picking up 6% on the London Stock Exchange on the same day.
Jonathan Akeroyd, who ended 2021 the general management of the famous House, which is the embodiment of “modern British luxury”, has unveiled positive news. And only a few months after the new artistic director, Daniel Lee, presented his first collection in February in the British capital.
Net rebound from China
Driven by a clear rebound in its main destination, the Chnois market, Burberry achieved a 10% increase in turnover to 3.1 billion pounds. Its comparable in-store sales even increased by 16%, when the consensus of analysts quoted by the company predicted “only” 14%.
The group’s net profit share rose from 24% to 490 million pounds.
Decline in America
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