Traders Watch Coach (COH), Tiffany (TIF) Following Burberry's Q1 Miss
Tweet Send to a Friend
Get Alerts COH Hot Sheet
Price: $59.52 -0.13%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.3%
Revenue Growth %: +7.2%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 2.3%
Revenue Growth %: +7.2%
Trade COH Now!
Coach (NYSE: COH), Ralph Lauren (NYSE: RL), Tiffany & Co. (NYSE: TIF), and other luxury (or close) retailers might see a little pressure Wednesday following an interim update from London-based Burberry plc.
According to the plaid-wrapped clothes and accessories retailer, sales in its first-quarter showed a slowdown from the prior quarter, missing analyst views in the process. Burberry said sales for the three-months ended in June were £408 million ($632 million), which was up 11 percent from the same period last year.
The number was down from 15 percent of growth in the fourth-quarter 2012 and compared to analyst expectations for 13 percent of growth.
Retail rev were up 14 percent to £280 million with comps up 6 percent. Leading the charge were sales in China, Germany, and the U.K.
Wholesale revs rose 9 percent to £102 million, in-line with expectations.
Licensing revs dropped 5 percent to £26 million, which resulted from the cycle of license terminations.
Amid the results, Burberry said fiscal 2013 results will be "broadly unchanged year-on-year."
"With continued brand momentum, Burberry has delivered a robust first quarter," commented CEO Angela Ahrendts. "Revenue was up 11% against a more challenging external environment. Sales in retail, now about 70% of the business, increased by 14%, with initiatives to elevate brand equity balanced by improved store productivity and new space. Building on our balanced business model and strong operational foundation, we continue to invest in our retail, digital and marketing strategies to drive long-term sustainable growth, while remaining responsive to the changing external environment."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
According to the plaid-wrapped clothes and accessories retailer, sales in its first-quarter showed a slowdown from the prior quarter, missing analyst views in the process. Burberry said sales for the three-months ended in June were £408 million ($632 million), which was up 11 percent from the same period last year.
The number was down from 15 percent of growth in the fourth-quarter 2012 and compared to analyst expectations for 13 percent of growth.
Retail rev were up 14 percent to £280 million with comps up 6 percent. Leading the charge were sales in China, Germany, and the U.K.
Wholesale revs rose 9 percent to £102 million, in-line with expectations.
Licensing revs dropped 5 percent to £26 million, which resulted from the cycle of license terminations.
Amid the results, Burberry said fiscal 2013 results will be "broadly unchanged year-on-year."
"With continued brand momentum, Burberry has delivered a robust first quarter," commented CEO Angela Ahrendts. "Revenue was up 11% against a more challenging external environment. Sales in retail, now about 70% of the business, increased by 14%, with initiatives to elevate brand equity balanced by improved store productivity and new space. Building on our balanced business model and strong operational foundation, we continue to invest in our retail, digital and marketing strategies to drive long-term sustainable growth, while remaining responsive to the changing external environment."
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
- UPDATE: Shares of Sony (SNE) Spike; Considers Spinning Entertainment Arm
- Molycorp (MCP) Continues Recent Surge Higher; Fundamentals Come Into Play
Create E-mail Alert Related Categories
Trader Talk
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
