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Burberry (LSE: BRBY) 1Q17 Results: Weak Tourist Spending Pressures Revenues

Executive Summary

  • Burberry reported fiscal 1Q17 retail revenue of £423 million, unchanged year over year at constant currency.
  • Retail comparable sales were down 3%, largely driven by weak performance in Hong Kong and Macau and a decline in tourist spending.
  • For FY17, Burberry expects total retail revenue growth in the low single digits. The company expects the wholesale business to decline by more than 10%.

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