Burberry adjusts forecast after sales rebound
The luxury fashion house headquartered in London has issued an unscheduled trading update ahead of the 27th of March 2021 financial year end
Burberry stated that since December they "see a strong rebound and now expect revenue and adjusted operating profit to be ahead of consensus expectations. Comparable store retail sales in the last quarter of the current fiscal year are expected to be in the range of +28% to +32% higher than the same period last year".
For the full year, group's revenue is expected to decline by -10% to -11% and the adjusted operating margin to be in the range of 15.5% to 16.5%.
The company will release preliminary fiscal 2021 results on 13th of May 2021.
Image credits: vmagazine.com
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