Burberry (Brby Ln): H2 Sales

Global Market Perspective Ltd See disclosures at the generate back of this document (C) 2011 Global Market Perspective. Ltd Global Markets: Influences from Asia Monday tenth October 2011 David McCulloch dcm@global-market-perspective.co.uk Tel: +44-207-352-3973 Burberry (BRBY LN): H2 barters entrust slow sharply Headwinds intensify for luxury goods trade in Burberrys fruit markets Korea, mainland chinaware and the US. Companies discussed in this agnise: ? Luxury goods and dept stemma gross revenue in US: High-end consumers more and more unwilling to buy while YoY hurdle rates escalate sharply done Q4 2010 and Q1 2011. ? Luxury goods spending in China: Restrictive monetary policy in China already spawning slowdown in gross gross revenue which will race through with(predicate) Q4. ? Korean gross revenue of luxury goods: Falling stock markets and ruin economic return will crimp luxury goods sales and department caudex sales going forward. H1 results m ay relegate alone temporary reassurance Tentative slowdown in Q2 will accelerate through H2. Burberry will release its Q2 trading modify this Wednesday (12th October). twain the circumstantial evidence and consensus guidance suggest sales growth rates, critical to the stocks premium valuation, lead ho-hum marginally through Q2. Thereafter we expect the fall in sales growth to accelerate through Q3 FY11 and into Q4.

surgical incision pedigree sales in China are decelerating. ? segment break in sales in China: Same-store sales growth at the major department stores across China exceeded expectations in H1 ranging amid 15-20% YoY. Nonetheless this represents a slowdown from the 25% same store sales growth witnessed throug! h late 2010 and early 2011. jewellery sales in China are slowing. ? Jewellery sales in China: Although growth has decelerated since early 2011 (January to March YoY sales growth averaged 59%), the slowdown has been marginal with growth averaging 46% between June and August. Korean Department store sales find slowed. ? Department store sales in Korea: Overall...If you want to vex a full essay, order it on our website: OrderEssay.net

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