From Morningstar: 2024-05-16 10:28:00

Burberry shares dropped as profits declined for the fiscal year 2023/24, resulting in a lower fair value estimate of £16.80. Revenue and profits fell, with weak sales in the Americas, EMEA, and Asia-Pacific regions, and a 12% decrease in mainland Chinese customer spending. Adjusted operating profit decreased by 25%.

The luxury goods retailer reported a 40% profit decrease for the financial year to March 30, leading to a 5% drop in shares to £11.27. Tough trading conditions are expected in the current financial year. Burberry’s stock has fallen by 54% over the past 12 months and nearly 20% in 2024.



Read more at Morningstar: Burberry Profits Slide, Shares Still Undervalued