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LONDON, March 12 (Reuters) - British luxury group Burberry
said on Friday it had seen a strong rebound in sales
since December, which it expected to result in profit for the
year to March 27 beating market forecasts.
In an unscheduled trading update, the company said
comparable store retail sales in the final quarter of its
financial year were expected to be 28% to 32% higher than the
same period last year.
"Since December, we have continued to see a strong rebound
and now expect revenue and adjusted operating profit to be ahead
of consensus expectations," it said.
For the full year, it said it expected group revenue to
decline by 10% to 11%, while its adjusted operating margin would
to be in the range of 15.5% to 16.5%.
Burberry, which showed its first menswear-focused collection
by designer Riccardo Tisci last month, has seen a strong
recovery in sales in mainland China and South Korea.
Growth in Asia has in part offset declines in Europe, where
regional COVID-19 lockdowns and travel restrictions have shut
stores and deterred tourists.
Analysts on average had expected group revenue at constant
exchange rates to decline 13% for the year, according to a
consensus compiled by the company in January.
(Reporting by Paul Sandle; editing by Sarah Young and Michael
Holden)
Burberry (BRBY)