As expected, the group’s business in the first quarter has been heavily impacted by the pandemic-led store closures, especially in EMEIA and the Americas. Although the sales recovery in Mainland China was encouraging, the worldwide shrinking tourist flows and the reduction in foot traffic in reopened stores have led the group to provide a very cautious outlook for Q2 20/21. The group’s greater dependence on travel retail and lower exposure to leather goods are making the group les
15 Jul 2020
Business contraction will persist for a while
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Business contraction will persist for a while
Burberry Group plc (BRBY:LON) | 1,130 113 0.9% | Mkt Cap: 4,052m
- Published:
15 Jul 2020 -
Author:
Jie Zhang -
Pages:
3
As expected, the group’s business in the first quarter has been heavily impacted by the pandemic-led store closures, especially in EMEIA and the Americas. Although the sales recovery in Mainland China was encouraging, the worldwide shrinking tourist flows and the reduction in foot traffic in reopened stores have led the group to provide a very cautious outlook for Q2 20/21. The group’s greater dependence on travel retail and lower exposure to leather goods are making the group les