Burberry Group PLC (OTC:BURBY) registered a retail revenue of £706 million, a decline of 7% Y/Y on a reported basis and 2% Y/Y on constant currencies in 13 weeks, ending on Dec. 30, 2023.
Comparable store sales declined 4% Y/Y, and contribution from space rose 2% Y/Y in nine months ended-FY23.
By region, comparable store sales rose 3% Y/Y in Asia Pacific, while it declined 5% Y/Y in EMEIA and 15% Y/Y in Americas in Q3 FY24.
In Asia Pacific, Mainland China rose 8% Y/Y, South Asia Pacific was up 2% Y/Y, and Japan increased 9% Y/Y, while South Korea witnessed a decline of 10% Y/Y.
Burberry's shares were down 7% in morning trading, extending losses over the last year to 44% and other luxury stocks like Lvmh Moet Hennessy Louis Vuitton SE (OTC:LVMHF) and Kering SA (OTC:PPRUY) both declined 2% in reaction to this, as per Reuters.
Outlook: Burberry noted a slowdown in luxury goods demand, thus lowering the expectations of adjusted operating profit for FY24 to £410 million to £460 million, from $552 million-$668 million earlier.
The London-based company remains committed to achieving a revenue of £4 billion. In particular, the company projects wholesale revenue to decline by a high-single-digit percentage in fiscal 2024.
Burberry now expects a currency headwind of c.£120 million to revenue and c.£60 million to adjusted operating profit.
Also, Burberry expects capex to be around £200 million in FY23 and has completed a share buyback worth £400 million as of Oct. 31, 2023.
Price Action: BURBY shares closed lower by 2.29% to $17.50 on Thursday.
Now Read: Producer Price Index Slows More Than Expected To 1% In December, Signals Softening Price Pressures
截至2023年12月30日,巴寶莉集團有限公司(場外交易代碼:BURBY)的零售收入爲7.06億英鎊,按報告計算,同比下降7%,按固定貨幣計算,同比下降2%。
在截至23財年的九個月中,可比門店銷售額同比下降4%,空間貢獻同比增長2%。
按地區劃分,亞太地區的可比門店銷售額同比增長3%,而EMEIA的同比銷售額在24財年第三季度同比下降5%,美洲同比下降15%。
在亞太地區,中國大陸同比增長8%,南亞太平洋地區同比增長2%,日本同比增長9%,而韓國同比下降10%。
據路透社報道,巴寶莉的股價在早盤交易中下跌了7%,將去年的跌幅擴大至44%,路威慕軒尼詩路易威登證券交易所(場外交易代碼:LVMHF)和開雲集團(場外交易代碼:PPRUY)等其他奢侈品股均下跌了2%。
展望:巴寶莉注意到奢侈品需求放緩,因此將24財年調整後營業利潤的預期從之前的5.52億英鎊至6.68億英鎊下調至4.1億英鎊至4.6億英鎊。
這家總部位於倫敦的公司仍然致力於實現40億英鎊的收入。特別是,該公司預計批發收入將在2024財年以較高的個位數百分比下降。
巴寶莉現在預計,貨幣逆差約爲1.2億英鎊,調整後的營業利潤約爲6000萬英鎊。
此外,巴寶莉預計,23財年的資本支出約爲2億英鎊,截至2023年10月31日,已經完成了價值4億英鎊的股票回購。
價格走勢:週四,BURBY股價收盤下跌2.29%,至17.50美元。
立即閱讀:12月生產者物價指數放緩幅度超過預期,至1%,這表明價格壓力正在減弱