{"id":11484,"date":"2024-01-12T10:49:03","date_gmt":"2024-01-12T10:49:03","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/burberry-warns-on-profits-as-luxury-slowdown-hits-christmas-sales\/"},"modified":"2024-01-12T10:49:03","modified_gmt":"2024-01-12T10:49:03","slug":"burberry-warns-on-profits-as-luxury-slowdown-hits-christmas-sales","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/burberry-warns-on-profits-as-luxury-slowdown-hits-christmas-sales\/","title":{"rendered":"Burberry warns on profits as luxury slowdown hits Christmas sales"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div id=\"post-152431\">\n<div class=\"td-post-content tagdiv-type\">\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"505\" class=\"entry-thumb\" src=\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/08\/shutterstock_1080136562-696x505.jpg\" srcset=\"https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/08\/shutterstock_1080136562-696x505.jpg 696w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/08\/shutterstock_1080136562-300x218.jpg 300w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/08\/shutterstock_1080136562-768x557.jpg 768w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/08\/shutterstock_1080136562-579x420.jpg 579w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/08\/shutterstock_1080136562-324x235.jpg 324w, https:\/\/www.retailgazette.co.uk\/wp-content\/uploads\/2023\/08\/shutterstock_1080136562.jpg 1000w\" sizes=\"auto, (max-width: 696px) 100vw, 696px\" alt=\"Burberry\" title=\"\"\/><\/div>\n<p>Burberry lowered is profit guidance for the year after sales dropped 7% over the golden quarter.<\/p>\n<p>The retailer lowered its adjusted operating profit guidance for the year ended 30 March 2024 to be in the range of \u00a3410m to \u00a3460m, dramatically behind the \u00a3552m to \u00a3668m original forecast.<\/p>\n<p>While revenues were up 3% in the Asia Pacific for the third quarter to December 30, it dropped 5% across Europe, the Middle East and Africa and plunged 15% across the Americas.<\/p>\n<p>Burberry said it also expected a currency headwind of aroudn \u00a3120m to sales and \u00a360m to adjusted operating profit.<\/p>\n<p>Despite the result, the business said it remained confident in its strategy to realise Burberry\u2019s potential as the modern British luxury brand and was committed to achieving its \u00a34bn sales goal.<\/p>\n<hr\/>\n<h5 style=\"text-align: center;\"><strong>Subscribe to Retail Gazette for free<\/strong><\/h5>\n<p style=\"text-align: center;\"><span class=\"x_al\">Sign up\u00a0here\u00a0to g<\/span><span class=\"x_al\">et the latest news straight into your inbox each morning<\/span><strong><span class=\"al\">\u00a0<\/span><\/strong><\/p>\n<hr\/>\n<p>Burberry CEO Jonathan Akeroyd said: \u201cWe are continuing to deliver the transition to our new modern British luxury creative expression for Burberry which started appearing in our stores in early autumn.<\/p>\n<p>\u201cWe are still in the early stages of executing on this, which has become more challenging against the backdrop of slowing luxury demand.\u201d<\/p>\n<p>He continued: \u201cWe remain confident in our strategy to realise Burberry\u2019s potential and we are committed to achieving our \u00a34 billion revenue ambition.\u201d<\/p>\n<p><em><strong>Click here to sign up to Retail Gazette\u2018s free daily email newsletter<\/strong><\/em><\/p>\n<\/p><\/div>\n<footer>\n<\/footer>\n<\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Burberry lowered is profit guidance for the year after sales dropped 7% over the golden quarter. The retailer lowered its adjusted operating profit guidance for [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-11484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-magazines"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/11484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=11484"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/11484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/11485"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=11484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=11484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=11484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}