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Burberry Share News (BRBY)

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Share News for Burberry (BRBY)


Share Price: 1,852.50Bid: 1,831.00Ask: 2,040.00Change: 0.00 (0.00%)No Movement on Burberry Grp
Spread: 209.00Spread as %: 11.41%Open: 1,819.00High: 0.00Low: 0.00Yesterday’s Close: 1,852.50




REFILE-France's Hermes says not feeling any slowdown

Sun, 30th Sep 2012 19:34

By Astrid Wendlandt

PARIS, Sept 30 (Reuters) - Hermes enjoyed healthy
sales growth in the summer and September, contrasting with other luxury brands such as Burberry and Tiffany & Co which have warned of deteriorating trading conditions.

The upbeat trading update on Sunday is likely to cement the view that the global luxury market is becoming increasingly segmented with some brands such as Hermes, Prada, Dior, Balenciaga feeling no pain while others, more vulnerable, are starting to suffer.

'We have not seen any inflexion of any kind in our sales,' Hermes Chief Executive Patrick Thomas told Reuters after the brand's presentation of its next spring/summer collection .

'Therefore our targets for the year remain unchanged.'

Hermes is known for its 15,000 euro Kelly and Birkin leather bags and its 400-euro silk scarves.

Dior Chief Executive Sidney Toledano on Friday said sales trends remained positive.

Many luxury brands, such as Tiffany and Burberry, blame an economic slowdown in China and Beijing's crackdown on gift-giving for their souring fortunes after having heavily invested opening flagship stores there.

Chinese customers, at home and abroad, are the biggest buyers for many well-established luxury brands such as Gucci and Louis Vuitton.

But luxury analysts also noticed changes in luxury spending patterns which show a rise in purchases of discreet, connoisseur luxury products and a drop in money spent on flashy, logo-embossed items.

'Chinese customers are becoming increasingly sophisticated very fast,' Thomas said.

'Before, they wanted ostentatious items, now they want quality objects. The future of the luxury market lies in products which demonstrate genuine craftsmanship.'

Thomas was speaking after the brand's fashion show held in the Jeu de Paume museum in central Paris.

Ex-Lacoste designer Christophe Lemaire, presented his fourth ready-to-wear collection for Hermes, which featured simple, minimalist ample white tunics, draped exotic printed silk suits and safari-inspired beige and ochre raincoats and jackets.

The collection seemed this year more eclectic than in the past, critics said, with oversized jackets on extra small shorts, and leather dresses in bright colours such as royal blue or emerald green which paid tribute to the brand's tradition of leather craftsmanship.



(Reporting by Astrid Wendlandt; editing by Patrick Graham) Keywords: HERMES UPDATE/

(astrid.wendlandt@thomsonreuters.com)(33149495440)(Reuters Messaging: astrid.wendlandt.thomsonreuters@reuters.net)

COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.






UPDATE 2-Financials, miners lead FTSE 100 rebound, but Burberry, Thomas Cook slip

* FTSE 100, FTSE 250 up 0.8%* Banks, miners boost main index* Burberry slumps after FY report* Profit warning takes Thomas Cook to multi-year low* Gen
[16 May '19 10:04]

Huawei ban fans China-U.S. worries, hits FTSE 100; Thomas Cook slumps

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.3%* FTSE 250 up 0.3%* Thomas Cook slumps to multi-yr low* Bu
[16 May '19 08:40]

European stocks dip as U.S. sanctions on Huawei add to trade anxiety

(For a live blog on European stocks, type LIVE/ in an Eikon news window)May 16 (Reuters) - European shares retreated on Thursday after Washington blac
[16 May '19 08:02]

UPDATE 3-Burberry's profits lack new designer's touch

* Full-year adj operating profit down 6%, missing market view* Revenue flat at 2.72 billion pounds* Says very encouraged by response to Tisci's new co
[16 May '19 07:59]

CORRECTED-Burberry reports steady full-year profit

(Corrects to read Tisci, paragraph 1)LONDON, May 16 (Reuters) - British luxury brand Burberry reported broadly flat full-year revenue and profit on Th
[16 May '19 07:21]

UPDATE 2-London's FTSE 100 falters, outcome of U.S.-China talks awaited

* FTSE 100 down 0.9 pct* FTSE 250 down 1.3 pct* BT slumps after FY results* RSA, Barratt higher on trading updates* Metro slips to a fresh life low (A
[9 May '19 10:02]

U.S.-China trade tensions haunt London's FTSE 100

(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.5 pct* FTSE 250 down 0.6 pct* RSA higher after Q1 report* Su
[9 May '19 08:57]

UPDATE 2-FTSE 100 flounders as miners, exporters drag; Metro Bank plummets

* FTSE 100 down 0.5 pct* FTSE 250 down 0.6 pct* Miners, exporter shares drag on main index* Shell, Smith & Nephew outshine* Metro Bank hits life-low a
[2 May '19 09:43]



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