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Burberry (LSE: BRBY) 1H16 Results: In-Line Results Driven by Digital Channel Growth and Product Innovation

Executive Summary

  • Burberry reported 1H16 revenue of £1.4 billion, down 1% from 1H15 but in line with the consensus estimate.
  • In the retail segment,comparable sales for the period were down2%,but up 1% excluding Hong Kong and Macau.
  • For FY17, the company plans to open 15 mainline stores in its retail segment, which are expected to contribute low–‐single–‐digit growth to total retail revenue. Burberry Expects a 10% decline in the wholesale

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