Key Developments: Burberry Group PLC (BBRYF.PK)
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24 May 2013
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$22.75
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Latest Key Developments (Source: Significant Developments)
Burberry Group PLC Proposes Final Dividend
Burberry Group PLC announced that a final dividend in respect of the year to March 31, 2013 of 21 pence (2012: 18 pence) per share, amounting to GBP91.5 million (2012: GBP78.6 million), has been proposed. The final dividend will be paid on August 1, 2013 to shareholders on the register at the close of business on July 5, 2013. Full Article
Burberry Group PLC Announces Resignation Of Ms. Stacey Cartwright As Chief Financial Officer And Executive Vice President; Appoints Ms. Carol Fairweather As New Chief Financial Officer
Burberry Group PLC (Burberry) announced that Ms. Stacey Cartwright, Executive Vice President (EVP) and Chief Financial Officer, is to step down after over nine years with the business in order to pursue new interests. To ensure a seamless transition, Ms. Cartwright will remain as EVP and Chief Financial Officer, and retain her position on the Board, until the conclusion of Burberry's Annual General Meeting in July 2013. Ms. Carol Fairweather is appointed Chief Financial Officer Designate with immediate effect and will become Chief Financial Officer on Ms. Cartwright’s departure. She will report to the Chief Executive Officer. Ms. Carol Fairweather has been with the company for six years, most recently as Senior Vice President, Group Finance. Prior to joining Burberry, she held senior finance positions at News International Limited and Shandwick plc. Full Article
Burberry Group PLC Issues FY 2013 Pre-tax Profit Guidance In Line With Analysts' Estimates-Conference Call
Burberry Group PLC announced that for fiscal 2013, it expects adjusted pretax to be GBP390 million, at the low end, and GBP417 million at the high end. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report pretax profit of GBP399 million for fiscal 2013. Full Article
Burberry Group PLC Approves Interim Dividend
Burberry Group PLC announced that the interim dividend of GBP0.08 (2011: GBP0.07) per share has been approved by the Board of Directors after September 30, 2012. The interim dividend will be paid on January 25, 2013 to Shareholders on the Register at the close of business on December 21, 2012. Full Article
Burberry Group PLC To End Partnership With Interparfums SA
Reuters reported that Burberry Group PLC will end its partnership with French fragrance maker Interparfums at the end of this year to pursue more profitable options in a beauty industry dominated by rivals. The maker of raincoats in distinctive camel, red and black check pattern said it had ended talks with the maker of Lanvin perfumes over new terms, paving the way for new possible partnerships or in-house initiatives. Interparfums, which has an exclusive worldwide licence for Burberry's fragrance and beauty products, had been in talks with the British firm since last December to create a new business including a possible joint venture. Full Article
Interparfums SA and Burberry Group PLC to Discuss About Creation of New Operating Model for Business and Buy Out License
Interparfums SA announced that since December 2011, Burberry, the global luxury group and Interparfums SA, the prestige fragrance company and exclusive worldwide licensee for Burberry fragrance and beauty products, have been engaged in discussions on the creation of a new operating model for the business. Although an agreement has been reached on certain main terms and conditions, important points remain to be finalized. To preserve its rights under the agreement, Burberry exercised its option to buy out the license rights effective December 31, 2012. Under the terms of the agreement, the buy out price amounts to EUR 181 million (exclusive of receivables, inventories and other tangible assets). However, the two parties are continuing their discussions on these important points in an effort to reach a new comprehensive agreement. If no new comprehensive agreement is reached, then the contract will end on December 31, 2012. Full Article
Burberry Group plc Proposes Final Dividend
Burberry Group plc announced that a final dividend in respect of the year to March 31, 2012, of GBP0.18 (2011: GBP0.15) per share, amounting to GBP79.0 million (2011: GBP65.4 million), has been proposed for approval by the shareholders at the Annual General Meeting subsequent to the balance sheet date. The final dividend to Burberry Group plc shareholders has not been recognised as a liability at the year end and will be paid on August 2, 2012, to shareholders on the register at the close of business on July 6, 2012. Full Article
Inter Parfums, Inc. and Burberry Group in Discussions About Potential new Operating Structure for Fragrance and Beauty Business and Status of Current License
Interparfums SA, the prestige fragrance company and exclusive worldwide licensee for Burberry fragrance products, and its licensor, Burberry Group, the global luxury company, announced that they are in discussions regarding the establishment of a new operating structure for the Burberry fragrance and beauty business. For nearly two decades, Interparfums and Burberry have developed a highly successful growing business. With excellent prospects in both the fragrance and beauty categories, the two companies are exploring ways to work more closely together to realize the brand’s potential. As there can be no assurance that an agreement will be reached, Burberry has exercised its right to evaluate the purchase price for the unexpired term of the existing license. In this process, Burberry has until July 31, 2012 to determine whether it wishes to buy out the unexpired portion of the license or continue the existing license which runs through December 31, 2017. Full Article
Burberry Group plc Announces Interim Dividend
Burberry Group plc announced that the interim dividend of GBP0.07 (2010: GBP0.05) per share has been approved by the Board of Directors after September 30, 2011. Accordingly, this dividend has not been recognised as a liability at the period end. The interim dividend will be paid on January 27, 2012, to Shareholders on the Register at the close of business on December 30, 2011. Full Article
RPT-UPDATE 1-Burberry profit rises 14 percent on Asia retail growth
LONDON, May 21 - British luxury group Burberry said full-year pretax profit rose a better-than-expected 14 percent on strong retail growth in Asian markets, where it is increasing numbers of Burberry branded stores.
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