Burberry Boosts Profitability as UK Brand Goes More Upmarket [Business News Network (BNN) (Canada)]
Capri Holdings Limited Ordinary Shares (CPRI)
Last capri holdings limited ordinary shares earnings: 2/5 06:30 am
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Source: Business News Network
Burberry said Wednesday its operating margin widened to 18.5% in the 53 weeks through April 2 from 16.9% in the year-earlier period on an adjusted basis. The company reiterated revenue growth should be at a high single-digit percentage in the medium term after sales rose at a double-digit pace last year. The luxury industry is grappling with lockdowns in China, weak tourism and declines in stock markets that may lead the rich to trim spending. The company closed its stores in Russia in March after the outbreak of war in Ukraine. Burberry said restrictions in China started weighing on sales in March. It's the first earnings update since Jonathan Akeroyd, formerly the head of Capri Holdings's Versace, became chief executive officer in March. Akeroyd is expected to follow the work of predecessor Marco Gobbetti, trying to make Burberry a higher-end brand by reducing third-party distribution and discounts on Olympia handbags and tartan scarves. The stock has dropped 13% this year.
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CPRI
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- 2/8/24 - Miss
CPRI
Sec Filings
- 4/22/24 - Form 8-K
- 4/15/24 - Form 8-K
- 2/13/24 - Form SC
- CPRI's page on the SEC website