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Burberry Upgrades Guidance after Strong Rebound in Sales

Burberry Upgrades Guidance after Strong Rebound in Sales

Friday, 12 March, 2021 - 09:30
A shopper carries a Burberry bag in central London, Britain, November 3, 2017. (Reuters)

British luxury group Burberry said on Friday it had seen a strong rebound in sales since December, which it expected to result in profit for the year to March 27 beating market forecasts.


In an unscheduled trading update, the company said comparable store retail sales in the final quarter of its financial year were expected to be 28% to 32% higher than the same period last year.


For the full year, it said it expected group revenue to decline by 10% to 11%, while its adjusted operating margin would to be in range of 15.5% to 16.5%.


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