Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Burberry Group PLC (BRBY)

  Print      Mail a friend       Annual reports

Wednesday 18 January, 2017

Burberry Group PLC

Third Quarter Trading Update

RNS Number : 4079U
Burberry Group PLC
18 January 2017
 

18 January 2017      

 

Burberry Group plc

 

Third Quarter Trading Update

 

Retail sales up 4% underlying, with strategies for long-term growth delivering early results and efficiency plans on track

 

Highlights for the three months to 31 December 2016

 

·     Retail revenue £735m, up 4% underlying (up 22% at reported FX)

 

·     Comparable sales up 3%

-   Asia Pacific returns to growth

Acceleration in Mainland China and improvement in Hong Kong

-   Double-digit percentage growth in EMEIA

Continued exceptional performance in the UK and improvement in France

-   Americas low single-digit percentage decline

Similar trends in the US to the first half, with American customer spend globally increasing

 

·     Operational and strategic progress, in line with plans announced in May

-   Brand strength

Engagement with festive campaign more than doubled to over 22 million film views

-   Enhanced product strategies

Growth led by newness across all categories with particular strength in bags

-   Customer cultivation and service

Increased mainline conversion globally and double-digit uplift in spend from returning customers

-   Digital outperformed with growth in all regions

Significant growth in mobile and China reflecting strategic focus and investment

-   Plans to enhance efficiency and effectiveness on track

Cost savings of around £20m to be delivered in FY 2017 as planned

 

·     £77m of £150m share buyback programme completed to date

 

 

Christopher Bailey, Chief Creative and Chief Executive Officer, commented:

 

"With a record number of views of our festive film and strong demand for new products in our collections, this third quarter improvement reflects early progress from our plans to drive Burberry's performance for the long term.  We continue to take action to position the business for growth over time and our plans to enhance efficiency are on track."

 

 

The financial information contained herein is unaudited.
 

Retail revenue

Retail sales increased by 4% underlying (up 22% at reported FX), with comparable sales up 3% and the balance from net new space. 

 

Comparable sales by region,

 

·     Low single-digit percentage growth in Asia Pacific

-   Acceleration in Mainland China, with high single-digit percentage comparable sales growth, despite the impact of the elevation of the store portfolio in Beijing

-   Hong Kong improved to a low single-digit percentage comparable sales decline, with positive conversion offsetting the majority of the footfall decline 

 

·     Double-digit percentage growth in EMEIA 

-   Continued exceptional performance in the UK with comparable sales growth of around 40%.  Growth from both travelling luxury customers from all regions and from domestic customers

-   Continental Europe remained weak, although France saw an improvement compared to Q2

 

·    Low single-digit percentage decline in the Americas

-   In the United States, domestic and travelling luxury customer demand remained uneven

-   Conversion improved and revenue from personal customer appointments and events grew significantly

 

Digital outperformed with growth in all regions, reflecting strategic focus and investment.  Mobile led the growth, with continued strong traffic and a meaningful improvement in conversion, supported by the launch of new payment methods.  The re-designed global site is receiving positive Net Promoter Score (NPS) results and the enhanced local website in China delivered strong growth.

 

By product, fashion again outperformed replenishment and led growth across all categories.  Accessories outperformed, led by strength in bags.  Customers responded positively to our festive assortment, with good growth in SLGs.  The September collection delivered strong results following the exceptional response to the runway show.

 

Outlook

No change in the outlook for retail, wholesale and licensing revenue to that given at the Interim Results in November 2016.

 

The expected benefit to FY 2017 reported adjusted retail/wholesale profit based on 31 October exchange rates* compared to FY 2016 rates was about £125m.  This reduced to about £115m using 31 December rates.  Since then the movement in exchange rates has become slightly more favourable. 

 

We expect FY 2017 adjusted PBT to be in line with current market expectations.

 

* See Appendix

 

 

Enquiries

 

Investors and analysts

 

Charlotte Cowley

Director of Investor Relations

020 3367 3524

 

 

 

 

Media

 

 

Andrew Roberts

VP, Corporate Relations

020 3367 3764

Nick Claydon

Brunswick

020 7404 5959

Katharine Spence

 

 

 

 

There will be a conference call for investors and analysts to discuss this update today at 9am (UK time).  The conference call can be accessed live on the Burberry corporate website (www.burberryplc.com), with a replay available later.  Burberry will release its Second Half Trading Update for the six months to 31 March 2017 on 19 April 2017.  It will announce its Preliminary Results for the twelve months to 31 March 2017 on 18 May 2017.

 

Underlying performance is calculated before adjusting items and removes the effect of changes in exchange rates, compared to the prior period.  This takes into account both the impact of the movement in exchange rates on the translation of overseas subsidiaries' results and also on foreign currency procurement and sales through the Group's UK supply chain.  Certain financial data within this announcement have been rounded. 


Certain statements made in this announcement are forward-looking statements.  Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future results in forward-looking statements.  Burberry Group plc undertakes no obligation to update these forward-looking statements and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this document.  Nothing in this announcement should be construed as a profit forecast.  All persons, wherever located, should consult any additional disclosures that Burberry Group plc may make in any regulatory announcements or documents which it publishes.  All persons, wherever located, should take note of these disclosures.  This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Burberry Group plc shares, in the UK, or in the US, or under the US Securities Act 1933 or in any other jurisdiction.

 

 

Notes to editors

 

·     Burberry is a global luxury brand with a distinctive British heritage, built around its core iconic outerwear.

 

·     Burberry designs and sources apparel, accessories and beauty, selling through a diversified network of retail (including digital), wholesale and licensing channels worldwide.

 

·     At 31 December 2016, Burberry globally had 213 retail stores, 202 concessions, 61 outlets and 48 franchise stores. 

 

·     Burberry, which is headquartered in London, was founded in 1856.  It is listed on the London Stock Exchange (BRBY.L) and is a constituent of the FTSE 100 index.  ADR symbol OTC:BURBY.

 

·     BURBERRY, the Equestrian Knight Device and the Burberry Check are trademarks belonging to Burberry which are registered and enforced worldwide.

 

 

 Appendix

 

Exchange rates

 

 

 

Forecast full year average rates for FY 2017
 

Average exchange rates
FY 2016

 

 

 

 

£1=

31 December 2016

31 October

2016

31 March
2016

Euro

1.19

1.16

1.36

US Dollar

1.30

1.29

1.50

Chinese Yuan Renminbi

8.75

8.54

9.57

Hong Kong Dollar

10.06

9.98

11.67

Korean Won

1,504

1,448

1,740

Yen~

158

154

177

         

 

~ For licensing revenue, taking into account the current hedged positions


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTBIGDBLGBBGRR

a d v e r t i s e m e n t