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Burberry says year ahead depends on China recovery
2022.05.18 09:46
FILE PHOTO: A woman walks past a Burberry boutique in Beijing, China, December 1, 2016. REUTERS/Thomas Peter
LONDON (Reuters) – British luxury brand Burberry said its outlook for the year ahead depended on how quickly China, its biggest market, recovered from COVID-19 lockdowns, after meeting expectations for sales and operating profit for its 2022 financial year.
The company reported a 23% rise in revenue to 2.83 billion pounds ($3.52 billion) and a 38% rise in adjusted operating profit to 523 million pounds, with comparable store sales in its final quarter growing 7% after lockdowns in mainland China weighed on its performance in March.
($1 = 0.8021 pounds)
