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Credit Suisse has raised its target price on Burberry, but the broker thinks that a lot of investment will be needed to maintain strong sales growth and keeps its “neutral” recommendation on the luxury fashion chain.
Burberry (BRBY) shares continue to grow, closing up 94p at 1,531p following better than expected fourth quarter results. The luxury goods company reported underlying revenues of 367 million pounds, 34% higher than for the comparable 3 month period ending 30th June 2010. Additionally, the company continues to expand overseas, including new stores in Hong Kong and Sydney. "We remain confident in our strategies and will continue to drive profitable growth," said chief executive Angela Ahrendts.
Angela Ahrendts, Chief Executive Officer, commented: "We are pleased with Burberry's start to the year, with double-digit growth balanced across retail and wholesale and all regions and product categories. Our exceptional team continues to capitalise on our unique British and outerwear heritage, develop our global retail presence and employ innovative digital technology, specifically marketing to the younger luxury consumer. While mindful of global macro challenges and increasingly tough comparatives in the balance of the year, we remain confident in our strategies and will continue to invest to drive profitable growth."
Burberry Group plc, the global luxury company, today reports on trading for the three months to 30 June 2011. Highlights · Total revenue of £367m, up 34% underlying - Double-digit growth in retail and wholesale, all regions and all product categories · Retail revenue of £245m, up 49% underlying - 15% comparable store sales growth (excluding China) - Outerwear and large leather goods contributed nearly half of mainline growth - Revenue growth of around 30% continued in acquired stores in China · Wholesale revenue of £95m, up 11% underlying - Up 19% underlying excluding China - High teens % underlying growth now projected for H1 2011 excluding China - New product strategies driving growth (men's tailoring and accessories, shoes and childrenswear) · Licensing revenue of £27m, up 6% underlying, in line with guidance · Further strategic and operational progress - Five stores opened including Hong Kong, Sydney and Chennai - Joint venture for five stores in Saudi Arabia now operational - Investment plans on track in FY 2011/12, with focus on flagship openings and refurbishments in high profile locations - Modest improvement in full year retail/wholesale operating margin planned; H1 margin down year-on-year reflecting weighting of revenue and costs, as previously guided
http://investegate.co.uk/Article.aspx?id=201107130700072795K
HSBC neutral on Burberry Group, target raised from 1250p to 1450p.
Angela Ahrendts, Chief Executive Officer, commented: "Burberry delivered strong operational and financial progress during the year, thanks to the consistent execution of our core strategies by our team and partners, more closely connecting our brand vision and values to consumers around the world. While mindful of global macro challenges in the current year, we will continue to invest to drive growth across our portfolio by channel, region and product."
Continued focus in FY 2012 on investing for growth - Capital expenditure planned at £180-200m (2011: £108m) - Emphasis on flagship openings and refurbishments in high profile locations including London, Chicago and Hong Kong - Accelerating new space growth to 12-13% and 15-20 major renovations - Enabled by brand momentum and improved productivity
Highlights · Strong financial performance - Revenue up 27% to £1.5billion - Retail/wholesale revenue up 29%; adjusted operating profit up 59% - Adjusted PBT up 39% to £298m; reported PBT £296m - Adjusted diluted EPS up 39% to 48.9p; reported diluted EPS 46.9p - Full year dividend up 43% to 20.0p - Net cash of £298m after £52m spend to date on China acquisition · Key strategies continued to underpin operational progress - Double-digit revenue growth in retail and wholesale, in all regions and all product categories - Retail revenue up 36% to 64% of sales (2010: 60%) - Non-apparel revenue up 35% to 40% of sales (2010: 38%) - Product strategies drove growth especially in core outerwear, relaunched menswear and Burberry Prorsum and London - Further development of digital initiatives across all channels - Good progress on integration of Chinese operations
http://www.investegate.co.uk/Article.aspx?id=201105260700143124H
The belt-tightening taking place elsewhere in the economy does not appear to have affected luxury fashions, which are going through a boom period. Burberry chief executive Angela Ahrendts, pictured, is in line for a £12m pay and bonus package, thanks to strong demand for her pricey wares. The group is expected to announce a 40% profit rise to £300m this week, according to the Daily Mail.
burbs --- may even see a 2-3% drop from the open
Burberry, the luxury goods group, is expected to maintain its strong momentum by posting a sharp uplift in second-half sales today. Burberry’s shares – which are up by more than 60% in the past year – have also been buoyed by persistent bid speculation. Given the valuation of 21 times forward earnings for 2012, we think such a takeover scenario is unlikely. This reinforces the Independent’s view that Burberry’s shares are well worth buying, but only when they have cooled down a bit. Hold, the newspaper recommends.
Burberry expects high-end profits Date: Tuesday 19 Apr 2011 LONDON (ShareCast) - Luxury fashion label Burberry expects profits for the financial year to March 31 to be at the top end of expectations after a strong performance in the final few months. Total revenues rose by 30% from the previous year on an underlying basis to £860m. In the retail division, where underlying sales were up by 42% to £596m, Burberry said its London stores “outperformed.” Wholesale revenue was up by 14% on an underlying basis to £214m. Chief executive Angela Ahrendts said the company saw good early progress in China. “While the luxury industry faces global challenges in the year ahead, we remain confident in our team's ability to outperform, underpinned by the consistent execution of our key strategies,” she said.
Angela Ahrendts, Chief Executive Officer, commented: "Burberry had a strong finish to the year, driven by our design, digital marketing and retail initiatives, as well as good early progress in China. As a result, we expect adjusted profit before tax for the financial year 2010/11 to be around the top end of market expectations. While the luxury industry faces global challenges in the year ahead, we remain confident in our team's ability to outperform, underpinned by the consistent execution of our key strategies."
· Further strategic and operational progress - Retail nearly 70% of total revenue - Monthly flow and replenishment drove growth - Further development of retail theatre and global digital commerce platform - Saudi Arabia joint venture being formed to directly operate five stores - Spain restructuring complete · Looking forward, Burberry is planning - 12-13% increase in average selling space for FY 2011/12 excluding the acquired stores in China; building presence in Latin America and Middle East - Mid teens % growth in underlying wholesale revenue for H1 2011 excluding China - Mid single-digit % growth in underlying licensing revenue for FY 2011/12
Burberry Group plc, the global luxury company, today reports on trading for the six months to 31 March 2011. The financial information contained herein is unaudited. Highlights* · Total revenue of £860m, up 30% underlying · Retail revenue of £596m, up 42% underlying - 13% comparable store growth - Double-digit mainline growth in all regions - Prorsum and Burberry London outperformed - Around 30% comp growth in acquired stores in China · Wholesale revenue of £214m, up 14% underlying - Up 29% excluding China, ahead of high teens guidance - Better than expected in-season orders - Menswear grew strongly - Americas and Asia Pacific outperformed · Licensing revenue of £50m, down 5% underlying, in line with guidanc
making bucks at other peoples misery doesnt make this short morally ok but its my veiw = if theres a opportunity to help my bank balance , i have to take it.
Have you been into a Burberry Store recently, some really cool stuff. Share price is up becuase product is what consumers want! Also they have Angela Ahrendts at the helm, listed 15th in the Top 50 Women in business’ - Financial Times (UK) - 26 September 2009