SHARE OF THE WEEK: Investors looking for Burberry results
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PART OF THE WEEK: Investors hope for standout performance as British fashion house Burberry announces half-year results
Shakira put on a breathtaking show in Burberry’s glamorous Christmas shoot this week.
The 45-year-old Colombian singer donned a sheer dress with Burberry branding to kick off the retailer’s celebratory campaign.
Investors will therefore hope for an equally striking performance when the British fashion house announces its half-year figures on Thursday.
Much of the focus will be on China, where seemingly insatiable demand for luxury goods has been hit by ongoing Covid lockdowns.
In particular, the focus will be on how Burberry fared on Singles Day, an unofficial holiday in China celebrated on November 11 when unmarried people buy gifts for themselves.
It is now the largest online shopping day in the world and a vital source of income for luxury brands.
Susannah Streeter, senior investment and market analyst at hargreaves Lansdown, said: “Mainland China accounts for a large portion of Burberry’s revenues.
But performance has been affected by the renewed Covid restrictions in China in recent months and by the deteriorating economic outlook.
“The potential is being held back by the lackluster demand in China, so it desperately needs a pick-up in Singles Day sales.”
The latest figures come just over a month after award-winning fashion designer Daniel Lee, 36, joined as chief creative officer, with his debut collection expected at London Fashion Week in February.