Editions Quartz. More from Quartz About Quartz. Follow Quartz. These are some of our most ambitious editorial projects. By Marc Bain Fashion reporter. Published October 9, This article is more than 2 years old. Sign me up. Gobbetti said Burberry remained on track to deliver the first phase of his turnaround strategy despite the unrest in Hong Kong which has affected sales in the top luxury shopping destination. Nevertheless, Burberry, famous for its trench coats, reported first-half revenue of 1.
The shares rose 5. Burberry expects broadly stable top-line growth and adjusted operating margin for the year but warned on Thursday that gross margin for will be down around basis points, 50 basis points worse than its previous forecast, partly due to the civil unrest in Hong Kong which shows no sign of abating. Brown said Hong Kong was for Burberry, as for most luxury players, a higher margin market. Account icon An icon in the shape of a person's head and shoulders.
It often indicates a user profile. Log out. US Markets Loading H M S In the news. Mary Hanbury. In a note to clients on Tuesday, a group of Jeffries analysts said that they expect the British luxury brand to be badly impacted by protests because of its exposure to the Hong Kong market. And these analysts aren't expecting the luxury boom times to return to Hong Kong anytime soon, warning that we could see a "permanent contraction" in the city's role as a luxury hub.
Visit Business Insider's homepage for more stories. Get a daily selection of our top stories based on your reading preferences.
0コメント