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published in Blogs
May 21, 2022
Burberry (BURBY, $19.86) Q4 earnings misses expectations, despite revenue beat

Burberry (BURBY, $19.86) Q4 earnings misses expectations, despite revenue beat

Burberry Group posted its fourth quarter earnings that fell short of  analysts' expectations, even as  revenue that exceeded estimates.

The British luxury retail company’s  earnings came in at £0.62 a share, vs. £0.63 a share expected by analysts polled by Investing.com.   Revenue of £1.61 billion, however, surpassed expectations of £1,595M.

Burberry is maintaining its forecast of high single-digit revenue growth and meaningful margin accretion at CER in the medium-term. But the results would hinge on the impact of Covid-19 and rate of recovery in consumer spending in Mainland China, as indicated by the company.

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