The post-Covid opening up of China provided the boost the British luxury goods maker Burberry needed to get what it's chief executive called a “strong financial performance”.
Sales in the company's fourth quarter, which ran from January to March 2023, soared by 16 per cent on a same-store basis. Its stores in China recorded a 13 per cent increase in sales over the same period.
Leather goods and outerwear sales were up 12 per cent and 7 per cent higher respectively over Burberry's financial year, but were 15 per cent and 30 per cent higher in the fourth quarter.
Meanwhile, Burberry's operating profit for the year rose 21 per cent to £657 million ($819.61 million).
“We have reorganised our supply chain, merchandising and digital teams under new leaders to drive our strategy forward,” Burberry chief executive Jonathan Akeroyd said.
“While the external environment remains uncertain, I am confident we can achieve our FY24 and medium-term targets as we focus on executing our plan to realise Burberry’s potential as the modern British luxury brand.”
It's been a time of change at Burberry and the revamped strategy, which included a new logo and marketing campaign, appears to be bearing fruit.
In addition, creative director Daniel Lee's first collection at London Fashion Week in February was very well received.
“The appointment of a new chief creative officer has shown early promise, with a successful debut runway show adding to a new brand aesthetic,” said Richard Hunter, head of markets at Interactive Investor.
“At the same time, the group remains committed to innovative and visible marketing campaigns, which capture the zeitgeist of high fashion and appoint ambassadors who are currently high profile in social media circles.
“The group is cautious on the immediate economic outlook, although its guidance remains unchanged, with a nearer term revenue target of £4 billion and the further refurbishment of full-price stores, which has already had a positive impact on profits given their fresh appeal.
“The group has also seen the benefits of its geographical diversification, allowing certain regions to pick up the slack when other economies may be slowing.”
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UAE currency: the story behind the money in your pockets
Company%20profile
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UAE currency: the story behind the money in your pockets
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The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Schedule for show courts
Centre Court - from 4pm UAE time
Johanna Konta (6) v Donna Vekic
Andy Murray (1) v Dustin Brown
Rafael Nadal (4) v Donald Young
Court 1 - from 4pm UAE time
Kei Nishikori (9) v Sergiy Stakhovsky
Qiang Wang v Venus Williams (10)
Beatriz Haddad Maia v Simona Halep (2)
Court 2 - from 2.30pm
Heather Watson v Anastasija Sevastova (18)
Jo-Wilfried Tsonga (12) v Simone Bolelli
Florian Mayer v Marin Cilic (7)
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Titan Sports Academy:
Programmes: Judo, wrestling, kick-boxing, muay thai, taekwondo and various summer camps
Location: Inside Abu Dhabi City Golf Club, Al Mushrif, Abu Dhabi, UAE
Telephone: 971 50 220 0326
Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
Jawan
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EXPATS
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Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
Arrogate's winning run
1. Maiden Special Weight, Santa Anita Park, June 5, 2016
2. Allowance Optional Claiming, Santa Anita Park, June 24, 2016
3. Allowance Optional Claiming, Del Mar, August 4, 2016
4. Travers Stakes, Saratoga, August 27, 2016
5. Breeders' Cup Classic, Santa Anita Park, November 5, 2016
6. Pegasus World Cup, Gulfstream Park, January 28, 2017
7. Dubai World Cup, Meydan Racecourse, March 25, 2017
TICKETS
Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.
Smart words at Make Smart Cool
Make Smart Cool is not your usual festival. Dubbed “edutainment” by organisers Najahi Events, Make Smart Cool aims to inspire its youthful target audience through a mix of interactive presentation by social media influencers and a concert finale featuring Example with DJ Wire. Here are some of the speakers sharing their inspiration and experiences on the night.
Prince Ea
With his social media videos accumulating more half a billion views, the American motivational speaker is hot on the college circuit in the US, with talks that focus on the many ways to generate passion and motivation when it comes to learning.
Khalid Al Ameri
The Emirati columnist and presenter is much loved by local youth, with writings and presentations about education, entrepreneurship and family balance. His lectures on career and personal development are sought after by the education and business sector.
Ben Ouattara
Born to an Ivorian father and German mother, the Dubai-based fitness instructor and motivational speaker is all about conquering fears and insecurities. His talk focuses on the need to gain emotional and physical fitness when facing life’s challenges. As well managing his film production company, Ouattara is one of the official ambassadors of Dubai Expo2020.
Dhadak
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Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
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T20 WORLD CUP QUALIFIERS
Qualifier A, Muscat
(All matches to be streamed live on icc.tv)
Fixtures
Friday, February 18: 10am Oman v Nepal, Canada v Philippines; 2pm Ireland v UAE, Germany v Bahrain
Saturday, February 19: 10am Oman v Canada, Nepal v Philippines; 2pm UAE v Germany, Ireland v Bahrain
Monday, February 21: 10am Ireland v Germany, UAE v Bahrain; 2pm Nepal v Canada, Oman v Philippines
Tuesday, February 22: 2pm Semi-finals
Thursday, February 24: 2pm Final
UAE squad:Ahmed Raza(captain), Muhammad Waseem, Chirag Suri, Vriitya Aravind, Rohan Mustafa, Kashif Daud, Zahoor Khan, Alishan Sharafu, Raja Akifullah, Karthik Meiyappan, Junaid Siddique, Basil Hameed, Zafar Farid, Mohammed Boota, Mohammed Usman, Rahul Bhatia
