MADRID, 12 Ene. (EUROPA PRESS) –
The shares of the British textile firm Burberry fell up to 14% this Friday on the London Stock Exchange, after the company revised downwards its forecasts for the current year, following the slowdown in its sales in the last quarter of 2023, including the holiday season.
In a statement, the multinational has reported that between October and December its retail income decreased by 6.6% year-on-year, to 706 million pounds (820 million euros), due in part to the adverse impact of the exchange rate.
By markets, Burberry’s revenue in the quarter in Asia Pacific increased 3%, but decreased 5% in Europe, the Middle East, India and Africa (EMEIA), as well as 15% in the Americas.
“We experienced a further slowdown in our key December trading period and now expect our full-year results to be below our previous projection,” CEO Jonathan Akeroyd said.
The company has indicated that, while it remains confident in its strategy to achieve revenues of 4,000 million pounds (4,649 million euros), “the slowdown in demand for luxury goods is having an impact on current trade.”
Against this backdrop, Burberry now expects adjusted operating profit for the current financial year ending March 30, 2024 to be between £410 million and £460 million (€476 million and €534 million), below previous guidance.
Furthermore, taking into account the exchange rates in force on December 29, 2023, it anticipates a negative currency-related impact of approximately £120 million (€139 million) to revenue and approximately £60 million (€70 million) euros) for adjusted operating profit.
