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    Luxury Big Burberry Shares Fell More Than 8%, And Another CEO Is Stepping Down.

    2016/4/15 9:54:00 67

    Luxury Brand BurberryRetail ChannelFashion Leather GoodsElectricity SupplierDesigner.

    Britain

    Luxury goods

    Group Burberry Group PLC (BRBY.L) Bo Bo Li today released the second half of the year's earnings report, the stock price fell more than 8%, mainly because Hongkong and Europe in the four quarter sales performance deterioration, the Group expects annual profits can only meet the market expectations (4.01-4.43 billion pounds) of the low end, and set the current 2017 fiscal year first half of the decline may also be aggravated, all of the above so that since taking office as chief executive since no obvious achievements, can only watch group performance gradually regression Christopher Bailey has attracted more and more criticism.

    In the fourth quarter of 2016 fiscal year ending March 31st, Burberry Group PLC Bo Bo Li.

    Retail channel

    Comparable sales recorded a 5% decline, which was significantly worse than the three quarter's flat performance, dragging down 2% year-on-year in the second half of the year. The group pointed out that if the performance of Hongkong and Macao showed a 1% increase in the second half of the year, the weakness of the region could be seen.

    The comparable sales decline in the Asia Pacific region is in the median, and Hongkong has plunged more than 20% in three consecutive quarters.

    However, the European and American markets have not seen much better. The sales of high-end tourism consumers in Europe have declined, especially among Chinese tourists. The United Kingdom and the Middle East have been struggling for the whole second half of the year. Domestic demand has been uneven, and the expenditure of high-end tourists is still declining in double figures, resulting in a slight decline in sales in the region.

    The performance of Burberry Group PLC Boboli in the above market is in line with the situation of LVMH fashion leather goods department in the first quarter.

    The commendable market includes mainland China, South Korea and Japan. The comparable sales in these three countries have increased, of which Japan's retail revenue has increased by more than 100% a year, and e-commerce has improved in all markets.

    Burberry Group PLC PLC Boboli currently has only 6 direct brand stores in the Japanese market. The group's resumption of locally authorized business has resulted in a reduction in authorized revenue in the second half of the year.

    The group watched as Hongkong gradually fell to the abyss and was hard to recover, but failed to catch Japan's chance of explosive growth of Chinese tourists in the past two years. Christopher Bailey was also criticized by analysts.

    According to HSBC Antoine Belge analyst, HSBC analysts said that in 2014 and 2015, Japanese tourist consumers in China both jumped 50%, that is, double to 225% when compared with the 2013 global luxury market slowdown, but Burberry Group PLC Bob Boli did not seize this opportunity. Liberum reported that the Japanese market revenue accounted for only 2%, far below the 10% average of the industry.

    Exane BNP Paribas SA (BNP.PA) farba analyst Luca Solca pointed out that Christopher Bailey now has only two choices, not to spend more time on products and design teams, but to hire a high-profile designer to lead the creative direction so that he can make a 100% CEO.

    Christopher Bailey has long been criticized by shareholders. Its capability is also considered inadequate for CEO positions. The industry believes that once Burberry Group PLC Bob is in business and

    shares

    The market continues to double downturn, shareholders continue to impeach the Christopher Bailey, the group may reconsider the replacement of CEO.

    Fixed exchange rate Burberry Group PLC, Bob Bailey, the retail revenue in the second half of the year was 1 billion 64 million, basically flat in the same period last year.

    Wholesale income fell by 1% to 330 million, while the increase in 11% of wholesale and wholesaling income partly offset the 6% decline in other wholesale income.

    Authorized revenue was cut to only 16 million because the authorized business of Japan was recovered according to the plan.

    In the second half of the year, the group's total revenue was 1 billion 410 million, slightly lower than the market expected 1 billion 420 million pounds, also reduced by 1% compared with the same period last year 1 billion 423 million, and the fixed exchange rate reduction was 1%.

    In the second half of this year, the group opened 5 new main stores and closed 8 stores.

    As of March 31st, the group had 215 retail outlets, 214 counters, 58 factory shops and 62 franchise stores.

    Burberry Group PLC PLC Boboli expects the "challenging demand environment" in the first half of fiscal year 2017 will lead to a wholesale revenue drop of 10% and authorized revenue will continue to shrink.

    Christopher Bailey said in the earnings report that Burberry Group PLC Bo Boli will continue to focus on cost reduction and productivity and efficiency.

    The group will announce a new cost reduction plan in May.

    In the past year, however, the group has done a lot of streamlining, including the cost reduction plan of 3000 Wan Yingbang (46 million 500 thousand US dollars) bonus, stock incentive and welfare of 20 million pounds (31 million dollars) travel and travel, which was put forward in October 2015. In November 2015, it reduced and unified the product line, ended the Burberry Prorsum, Burberry London and Burberry Brit business, and reduced the number of shows in 2016 February to two times a year.

    According to No Agency, an industry agency, these three streamlining plans are expected to save nearly 100 million pounds for the group.

    For the new plan that has not yet been announced, RBC Capital Markets Rogerio Fujimori analyst of the Royal Bank of Canada pointed out in last week's research report that since last year's cost cutting has been so thorough, the effect of deepening and expanding will be very limited.

    Rogerio Fujimori lowered the Burberry Group PLC (BRBY.L) share price rating to "run the market".


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