Burberry to Expand New Store Format to Gain Higher-Spending Clients

Bloomberg2021-11-11

Burberry Group Plc shares slumped as the U.K. trenchcoat maker’s plan to go up-market lost momentum ahead of the arrival of a new chief executive officer. The stock fell as much as 10%. The company’s ...

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精彩评论

kupkup
2021-11-11
kupkup
Nice
- kupkup:
  power
Jeromelim
2021-11-11
Jeromelim
ok
- Decaffed:
  Ok
Valeriechan
2021-11-11
Valeriechan
[Cool]
Jchptan
2021-11-11
Jchptan
Hi

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The company’s ...</p>\n\n<a href=\"https://finance.yahoo.com/news/burberry-expand-store-format-gain-090512277.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BURBY","symbol_name":"Burberry Group Plc","start_time":0,"source_url":"https://finance.yahoo.com/news/burberry-expand-store-format-gain-090512277.html","article_id":"1100855797","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1100855797","pubTimestamp":1636624759,"columns":[],"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Burberry Group Plc shares slumped as the U.K. trenchcoat maker’s plan to go up-market lost momentum ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BURBY":"Burberry Group Plc"},"translate_title":"巴宝莉拓展新店业态争取高消费客户","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BURBY":0.9},"content_text":"Burberry Group Plc shares slumped as the U.K. trenchcoat maker’s plan to go up-market lost momentum ahead of the arrival of a new chief executive officer.\nThe stock fell as much as 10%. The company’s full-priced sales growth decelerated to 10% in the three months through September after more than doubling in the first quarter, which had an easier comparable.\nThe slowdown dashed hopes the company was already turning its business around ahead of the arrival of Jonathan Akeroyd as CEO in April. Burberry has been shifting more stores to a fancier design and said it was trying to reduce discounting.\nBurberry is facing a transition period with Marco Gobbetti, the outgoing chief executive officer, set to leaving the group to run Salvatore Ferragamo SpA. Akeroyd, the head of Capri Holdings’ Versace, may have a bigger challenge in making Burberry more up-market than investors previously thought.\n“All eyes are going to be on the change of leadership,” said Luca Solca, an analyst at Sanford C. Bernstein.\nWhat Bloomberg Intelligence Says:\nThough Burberry’s interim same-stores sales growth of 1% matched 1Q’s level, the 18% lift in full prices is slower and less positive than 26% in the previous quarter, handing incoming CEO Jonathan Akeroyd much to focus on when he arrives in April. Profit recovery and cash flow are accelerating, enabling a dividend reinstatement and restart of a 150 million-pound share buyback.\n-- Deborah Aitken, BI luxury-goods analyst\nThe company opened a flagship on Sloane Street in London in July designed by architect Vincenzo de Cotiis with a gallery-like ground floor aimed as a backdrop for the collections. Fifteen locations have moved to the format, including several in China and South Korea. Burberry said it decided to accelerate the shift, expecting to have 50 shops in the fancier design by the end of the fiscal year.\nBurberry joins Kering SA’s Gucci in publishing results that suffered from recent virus restrictions in China. 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