Burberry Is Lower Than Expected In The Current Quarter.
Burberry
The group released its third quarter earnings yesterday, showing that the group's revenue was lower than expected in the quarter, but 1% of potential sales growth.
In the first three months ended December 31st, the group's total sales volume was 603 million pounds. Burberry group CEO Christopher Bailey pointed out that the luxury industry is becoming more and more difficult.
In early March, the Burberry flagship store in Zhejiang Wenzhou Fortune Plaza was closed.
At present, the brand official has not yet been confirmed and announced.
Guan Dian
Reason.
The Burberry group said sales in these districts dropped by more than 20% in the third quarter, due to a sharp drop in passenger traffic in Macao, Hongkong.
In early March, there were media reports that Burberry or malicious takeovers, mysterious investors gradually increased holdings of Burberry shares, has been close to 5% of the red line.
This event heralds a potential takeover, pushing Burberry forward.
Price of stock
Hit a five month high.
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By the end of December 31st, the company's fourth quarter pre tax profit (EBITDA) rose by 2% to 171 million euros, less than the company's 3 to 5% target.
According to the disclosure, based on the constant exchange rate, sales increased by 5%, thanks to the increase in tourist arrivals, sales in Europe increased by 10%.
US regional sales fell 1%, and the US market has been weakening since the third quarter.
Sales in China were the most dismal and sales fell more than double digits.
Hugo Boss decided to slow down the expansion of its retail network, and the group decided to close 20 stores in China.
The company expects sales growth to slow down in 2016 and operating profit to decline.
After the release of the earnings report, the group announced that it had left the group CEO Claus-Dietrich Lahrs for 8 years.
Due to weak sales in China and the United States, the group issued a profit warning, the stock price plunged 20.2% in February 23rd, and the group's market value evaporated 26.2%.
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