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BRBY: Second Profit Warning in 3 Months for Burberry
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BRBY: Second Profit Warning in 3 Months for Burberry

(LON: BRBY) Burberry Presents Q3 FY24 Trading Update

Conor Mac's avatar
Conor Mac
Jan 16, 2024
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BRBY: Second Profit Warning in 3 Months for Burberry
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Burberry
Weighting as of writing: 2%

16th January 2023 - Q3 FY 24 Trading Update

On January 12th, Burberry released a Q3 FY23 trading update one week ahead of schedule to warn investors of lower-than-anticipated results for the second time in three months (see H1’s profit warning). With both revenues and comparable store sales falling in Q3 FY24 as well as a hefty downward revision to adjusted operating income, the lack of an earnings call in this quarter left investors reeling with little chance of an explanation from management. The trading period for Q3 runs up to December 30th; with management stating they “experienced a further deceleration in [the] key December trading period” it’s evident that Santa Claus was not shopping at Burberry this Christmas.

The company’s CEO, Captain Obvious, only had the following to say; “The slowdown in luxury demand is having an impact on current trading”. That’s about the extent of the context provided in Q3. Following the release, I contacted the IR …

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