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    Luxury Brand Burberry Sales Fell, Shares Fell 8.7%

    2016/10/19 14:22:00 27

    Burberry GroupSterling DepreciationHandbags

    Burberry is a very traditional British luxury brand. Recently, the growth momentum of Burberry is still insufficient. Although Burberry is the largest luxury brand with the biggest depreciation of the pound, the actual sales revenue of the group declined in the first half of the year, and the potential sales revenue fell by 4% over the same period last year.

    After the release of the earnings report,

    Burberry group

    Share prices plunged 8.7% to 1380 pence per share.



    The group report points out that

    Pound depreciation

    Positive impact, as of the first half of September 30th, group sales revenue increased 5% from last year to 1 billion 160 million pounds, or 1 billion 520 million US dollars, accounting for the largest retail revenue increased 11% to 859 million pounds in the same period last year, which was 1 billion 130 million US dollars. But by the continuous downturn of department stores and wholesale and licensing, the impact of the decline in sales volume offset the strong British regional sales growth caused by the depreciation of the pound.

    Chinese tourists are the main consumers of Burberry this quarter.

    In the second quarter, the group's comparable retail sales were boosted by tourists buying luxury goods in the UK. Compared with the first quarter, -3% rose 5% to 2%, higher than the 1% growth expected by analysts.

    Carol Faireather, chief financial officer of the group, said that the demand for luxury goods has increased significantly in the three months since the British vote in Europe. She stressed: "Chinese tourists are the main consumers of the quarter."

    By Region:

    80% of sales came from the international market outside the United Kingdom, while the second quarter sales in Europe and the UK increased by 30% over the same period. This is the main driving force for the group's comparable retail sales growth of 2%. This is the first time the index has recorded growth since the four quarter.

    In the first half of the year, sales volume in Asia Pacific and EMEIA (Europe, Middle East and Africa) increased based on reports, but potential sales were generally flat.

    The overall sales volume of the American market, including the US region, was affected by the weakening of the department store industry.

    Christopher Bailey, group chief creative officer and chief executive officer, pointed out: "at present, Burberry is facing a challenging external environment, and the group will continue to focus on product innovation, the improvement of retail efficiency and the pformation of digitalization so as to achieve the group's performance goals."

    The group said that in September, Burberry first launched the strategy of watching buying strategy, which has achieved initial success. The series has gained a strong response in the market, and Burberry also revealed that the best selling products in this series are

    Handbag

    Clothing and cloak, but the group did not disclose the specific growth figures that were bought and sold.

    It is noteworthy that, on the basis of potential, the sales revenue growth of most of the product categories in Burberry group declined in the first half of the year, and the cosmetics category was the hardest hit. In the first half of the year, the income fell 17% on the basis of potential, and it fell by 7% compared with the same period on the basis of the benchmark data.

    However, the sales of Burberry perfume for men and women were good and the share in key markets increased.

    In addition, the group's Men series is flat, and the children's wear series is recorded by 9%.

    As the group adopted "cautious orders" and "

    Strategic brand control

    "The rationalization of market distribution," the first half of the year, the company's basic wholesale income decreased by 20% over the same period last year. For the second half of 2016, due to the promotion of the strategic brand of the US market and cosmetic products, the Group expects that the total wholesale income calculated by fixed exchange rate will decline by two digits in the six months to March 31st next year, and the rest will maintain the growth trend in the first half of the year.

    The pound has fallen nearly 20% against the US dollar since its referendum, and Burberry group will benefit further this year.

    According to the exchange rate in September 30th, Burberry announced that the adjusted retail / wholesale profits will increase by 105 million pounds or 128 million US dollars, and if the exchange rate is calculated in October 12th, the group will earn at least 20 million pounds or 24 million dollars in profits, higher than the September forecast.

    Some analysts believe that the four quarter of the second consecutive quarter of decline, the Burberry group's first quarter sales revenue growth is obviously affected by the impact of the depreciation of the pound, the group's actual performance has not improved.

    However, Burberry has been one of the best performing stocks benefiting from the depreciation of the pound. Its share price has risen 35% since the release of the UK, which is more than the 24% increase in the FTSE 100 index.

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