The Telegram - News - Canada - World - Business

Article

Print
Send to a friend
Comment (0)

Burberry sees full-year profit at lower end of forecasts as retails sales slow

Published on September 11, 2012; Published on September 11, 2012

Topics :: LONDON

LONDON - Luxury goods maker Burberry PLC says that full-year pretax profit will be at the lower end of market expectations following a flat retail performance in the last 10 weeks.

Burberry said Tuesday that retail sales in the period ending Sept. 8 were 6 per cent higher than a year ago, but all of the growth was due to new stores. Comparing stores open for at least a year, retail sales were unchanged and the company noted "a deceleration in recent weeks."

Retail accounted for about two-thirds of the company's sales in the year ending March 31.

Chief Executive Angela Ahrendts says "the external environment is becoming more challenging," and she says the company is keeping a close eye on discretionary costs.

©

Rate
Top of the page

Submit a comment

Submit a comment Your name* Email* (we keep all emails private) Write your comment here*

Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.