Burberry CFO makes multiple transactions

Stacey Cartwright, the Executive Vice President and Chief Financial Officer of high-end fashion label Burberry, has sold 122,500 of the 132,500 shares she received which vested on Thursday. Cartwright, who joined the firm as CFO in 2004, sold the shares at 1,211.99p each, earning her a total of £1.36m. Under the firm's Co-Investment plan, Cartwright and Chief Executive Officer Angela Ahrendts have both deferred their bonus for the year ended March 31st and have instead invested in shares at 1,211.99p a pop. Cartwright bought up 35,395 and was awarded 148,516 matching shares, while Ahrendts purchased 77,870 and received 326,736 matching shares. Earlier this week Burberry said that as part of its ongoing discussions over a potential new operating model for the Burberry fragrance and beauty business, it has given notice of its intention to terminate the licence agreement with Interparfums SA, the exclusive worldwide licensee for Burberry fragrance and beauty products, at the end of 2012. Burberry, which will pay around €181m in cash for the termination, said the decision would ensure it had the flexibility to pursue the development of the business. Last week the company said total revenue in the three months to the end of June was up 11% to £408m from £367m in the corresponding period of 2011. Retail revenue was up 14% to £280m from £245m the year before, with the UK, France, Germany and Greater China leading the way. Like-for-like sales were up 6% year-on-year. Licensing revenue was down year-on-year, easing 2.0% (-5.0% on a constant currency basis) to £26m from £27m in the corresponding period of 2011, largely as a result of the the termination of certain non-apparel licences in Japan in June 2011. Shares rose today on positive read-across from French peer Hermes. Top Director BuysBurberry Group (BRBY) Director name: Ms Angela AhrendtsAmount purchased: 77,870 @ 1,211.99p Value: £943,777Burberry Group (BRBY) Director name: Ms Stacey CartwrightAmount purchased: 35,395 @ 1,211.99p Value: £428,984Tasty (TAST) Director name: Mr Samuel KayeAmount purchased: 95,262 @ 63.76p Value: £60,739Tasty (TAST) Director name: Mr Adam KayeAmount purchased: 95,262 @ 63.76p Value: £60,739World Trust Fund (WTR) Director name: Mr Philip R. McLoughlinAmount purchased: 15,000 @ 180.36p Value: £27,054Rockhopper Exploration (RKH) Director name: Mr David Hamilton BodecottAmount purchased: 14,982 @ 198.25p Value: £29,702Rockhopper Exploration (RKH) Director name: Mr Peter John Dixon-ClarkeAmount purchased: 12,484 @ 198.25p Value: £24,750SnackTime (SNAK) Director name: Mr Jeremy J HamerAmount purchased: 80,000 @ 30.00p Value: £24,000Throgmorton Trust (THRG) Director name: Ms Jean MattersonAmount purchased: 12,000 @ 175.00p Value: £21,000RedHot Media International Ltd (DI). (RHM) Director name: Mr Cheong Chia ChiehAmount purchased: 100,000 @ 20.00p Value: £20,000Top Director SellsBurberry Group (BRBY) Director name: Ms Stacey CartwrightAmount sold: 112,500 @ 1,211.99p Value: £1,363,489IG Group Holdings (IGG) Director name: Mr Jonathan R DavieAmount sold: 200,000 @ 458.00p Value: £916,000Tasty (TAST) Director name: Mr Daniel Jonathan PlantAmount sold: 470,514 @ 63.76p Value: £300,000NR