// Burberry says Q4 revenue may have risen as much as 32%
// Analysts had expected a 24% increase
Burberry has said its full year forecast will be ahead of expectations after it enjoyed a better-than-expected trading performance during its fourth quarter.
In an unscheduled trading update this morning, the luxury fashion brand and retailer said it had experienced a strong rebound in sales since December as it bounces back from last year’s Covid-induced slump despite continuing lockdowns.
Burberry said it now expected like-for-like store retail sales in its fourth quarter ending March 27 to be 28 per cent to 32 per cent higher than in the same period last year.
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According to data from Bloomberg, analysts expected a 24 per cent increase.
It comes after Burberry recorded a nine per cent slump in retail sales in the third quarter ending December.
For the full year, it expects group revenue to decline by between 10 per cent and 11 per cent and its adjusted operating margin to be in the range of 15.5 per cent to 16.5 per cent.
Burberry’s full year results are due to be released on May 13.
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