Burberry updates outlook after strong rebound in sales
12 Mar 2021
Burberry has issued a trading update ahead of the March 27, 2021 financial year-end. Since December, the company continued to see a strong rebound and now expects revenue and adjusted operating profit to be ahead of consensus expectations.
The company said in a statement that comparable store retail sales in the fourth quarter are expected to be in the range of positive 28 percent to 32 percent higher than the same period last year. For the full year, the company expects group revenue to decline by 10 percent to 11 percent and the adjusted operating margin to be in the range of 15.5 percent to 16.5 percent.
The company will announces preliminary FY2021 results on May 13, 2021.
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