Burberry sales set to be higher than expected

Worldwide
Published:  15 March, 2021
Credit: Burberry

The luxury British fashion house has released an unscheduled trading update ahead of the March 27, 2021 financial year end, stating that sales are expected to be higher than anticipated.

Since December 2020, Burberry has continued to see a strong rebound in sales and predicts revenue and adjusted operating profit to exceed consensus expectations.

The company’s trading update outlined that comparable store retail sales in the fourth quarter of the 2021 financial year are expected to be between 28-32% higher than the same period in 2020. Burberry expects its revenue to decline by 10-11%, and the adjusted operating margin to be between 15.5-16.5%.

Preliminary results are due for release May 13, 2021.