Burberry Presents Star-studded Moody Autumnal Collection

A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls
A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls
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Burberry Presents Star-studded Moody Autumnal Collection

A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls
A person walks past a Burberry store undergoing refurbishment on New Bond Street in London, Britain, March 11, 2023. REUTERS/Henry Nicholls

Burberry's creative director, Daniel Lee, on Monday showed his third brief at London Fashion Week, which is celebrating its 40th anniversary, with an ode to the brand's outdoor heritage for the luxury house's autumn-winter 2024 collection.
Set in a dark marquee in London's Victoria Park where guests sat on big fluffy brown cushions, songs from late British singer Amy Winehouse set the mood for the night.
The star-studded show was attended by actress Olivia Coleman, US Vogue Editor in Chief Anna Wintour, model Jourdan Dunn, and Irish actor Barry Keoghan among others, Reuters.
Monday's show heavily featured outerwear and sporty silhouettes with bomber jackets and Burberry's iconic trench coat that sat alongside flowy beaded and velvet dresses.
It noticeably lacked the brand's new signature 'Knight Blue', the same color featured in its "takeover" of British department store Harrods this month.
Models walked down a grass runway on chunky-soled leather boots, parading leather and faux-fur coats in shades of muted green and brown, oversized stripy suit jackets and trousers with sipper detailing.
British models Naomi Campbell, Agyness Deyn and Lily Cole were among those sashaying on the catwalk.
Burberry's famous beige, black and red check was reimagined into the moody Autumnal color palette and featured on the inside of floor-sweeping skirts with long slits down the side.
Accessories included checked umbrellas, large canvas, leather and faux-fur bags in cream, brown and green - often adorned with gold detailing - and paired with scarves worn over the head.
Lee, who was behind the revamp of Italian fashion brand Bottega Veneta, is facing pressure to produce a winning collection for Burberry which is battling a slowdown in demand for luxury goods.
The 168-year-old company issued a warning on its profits in January, a setback for Chief Executive Jonathan Akeroyd who is seeking to reposition the brand as "modern British luxury".



Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
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Birkenstock Results Beat on Resilient Demand, Forecasts Margin Recovery

A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)
A Birkenstock shoe is displayed at Birkenstock shoe store in London, Britain, October 11, 2023. (Reuters)

Birkenstock beat market expectations for fourth-quarter results on robust demand for its pricey footwear and forecast a recovery in margins in fiscal 2025, sending the company's shares up 7% on Wednesday.

With fresh styles becoming a priority for consumers, Birkenstock's sandals and closed-toe clogs have drawn new customers both at its own stores and at retailers.

The company bypassed steep discounting trends evident during the holiday shopping season, which Birkenstock executives said was off to a strong start globally.

"The expansion of ranges into more closed-toe silhouette has helped boost revenue, given that they offer multi-season wear," Susannah Streeter, head of money and markets at Hargreaves Lansdown, said.

Germany-based Birkenstock's average selling prices across its product range were up 8% in fiscal 2024, in part due to higher sales of clogs, the company said, adding that closed-toe styles now made up about a third of its business.

The company has invested in expanding its global store presence and increasing manufacturing capacity this year to meet demand.

While it led to a 330-basis point drop in gross margins in fiscal 2024, Birkenstock forecast a recovery in margins in fiscal 2025 as it ramps up production from new facilities.

The company reported fourth-quarter revenue of 455.8 million euros ($478.27 million), compared with the average analyst estimate of 439.2 million euros, according to data compiled by LSEG.

However, Birkenstock's forecast for fiscal 2025 revenue to increase between 15% and 17% was below estimates of 17.5% growth.

"It would appear with this incredibly healthy growth, the company is choosing to adopt a conservative approach that they expect to be able to meet and beat," BMO Capital Markets analyst Simeon Siegel said.

On an adjusted basis, Birkenstock earned 0.29 euro per share, beating estimates of 0.26 euro.