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Burberry Group PLC (BRBY.L)

BRBY.L on London Stock Exchange

21 Nov 2017
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Latest Key Developments (Source: Significant Developments)

Burberry does not expect to announce new creative lead soon
Thursday, 9 Nov 2017 05:42am EST 

Nov 9 (Reuters) - Burberry Group :Cfo brown says ambition to improve op margin significantly from current 17 percent, although not to level of luxury leather goods companies, which are around 26 percent.Ceo gobbetti says we have started process to find right creative lead, don’t expect any announcement any time very soon.Ceo gobbetti says outerwear will remain a fundamental part of burberry.Ceo gobbetti says burberry pretty well priced in outerwear, other items need price adjustment.Ceo gobbetti says it will take a couple of years to rationalise u.s. Distribution.Ceo says there will be an element of price in growth forecast and there will be volume growth as well.Ceo says “no intention of shutting out customers through pricing”.Burberry cfo says targeting a 300 basis points increase in operating margin in five year period.Cfo says underlying inflation in cost base is running at about 4 percent.  Full Article

Burberry H1 ‍adjusted op profit rises 17 pct to 185 mln stg
Thursday, 9 Nov 2017 02:00am EST 

Nov 9 (Reuters) - Burberry Group Plc :Interim dividend up 5 percent to 11 penceper share.H1 ‍revenue 1,263 million stg, up 4​ percent underlying.‍h1 retail comparable store sales, up 4 percent.‍adjusted operating profit 185 million stg, up 17 percent underlying​.‍now expect to deliver £60m of cumulative cost savings in full year​.‍expected impact of year-on-year exchange rate movements on fy 2018 reported adjusted operating profit is around £20m adverse compared to our previous guidance for £25m adverse at 30 june effective rates​.  Full Article

Burberry names Jeremy Darroch as senior independent director
Wednesday, 21 Jun 2017 10:19am EDT 

June 21 (Reuters) - Burberry Group Plc :Jeremy Darroch has been appointed as senior independent director (sid) with effect from 1 July 2017 replacing Philip Bowman.Will be responsibility of Jeremy Darroch as newly appointed SID to lead process of appointing a successor to John Peace.Anticipated that a successor for Peace will be announced by end of 2018.  Full Article

Burberry says to set up business services centre in Leeds
Thursday, 4 May 2017 10:30am EDT 

May 4 (Reuters) - Burberry Group Plc ::Intention to open a new office in Leeds, strengthening its ties with Yorkshire..Subject to consultation with employees, office will open in October.It is expected that about 300 roles will transfer to Leeds..  Full Article

Coty enters exclusive licensing agreement for some Burberry products
Monday, 3 Apr 2017 05:00am EDT 

Coty Inc : Entered agreement to acquire exclusive long-term global license rights for Burberry beauty luxury fragrances, cosmetics and skincare . Coty will pay a cash consideration of 130 mln pounds for long-term exclusive global license .Deal is expected to close in calendar Q4 2017, at which point Coty will buy from Burberry approximately 50 mln pounds of inventory.  Full Article

Smith & Nephew says CFO Julie Brown to leave for Burberry
Monday, 11 Jul 2016 08:56am EDT 

Smith & Nephew Plc : Julie Brown, chief financial officer, will be leaving company in Jan. 2017 to join Burberry as chief operating and financial officer .Search for a successor to Julie is underway, and a further announcement will be made in due course.  Full Article

Burberry Group names Marco Gobbetti as CEO; to join in 2017
Monday, 11 Jul 2016 08:50am EDT 

Burberry Group Plc : Marco Gobbetti appointed chief executive officer . Christopher Bailey to become president & chief creative officer . Christopher and Marco will report directly to chairman . Gobbetti will join board upon arrival from a date in 2017 as soon as he is contractually able to do so .Christopher will transition to his new role at that time and will remain on board.  Full Article

Burberry names Smith & Nephew's Julie Brown as new CFO
Monday, 11 Jul 2016 08:50am EDT 

Burberry Group Plc : Julie Brown appointed as new chief operating & financial officer . Reporting to chief executive officer, Julie Brown will join business and board in early 2017 . Julie is currently chief financial officer at global medical technology business Smith And Nephew Plc .Says Julie qualified with KPMG before working at ICI and AstraZeneca Plc.  Full Article

Burberry says COO John Smith to step down from board
Friday, 10 Jun 2016 07:00am EDT 

Burberry Group Plc : Directorate change . John Smith, chief operating officer, to step down from board .Smith will leave company and step down from board by summer 2017.  Full Article

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