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Burberry reports record revenue and profits



The UK luxury fashion brand, Burberry, has reported an increase in annual revenue and profits.
The company posted adjusted pre-tax profits for the year to March at £461m. This is an increase of 8% on the £428m a year ago. Revenue increased by 17% to reach £2.33bn. Both figures are record annual results.

The company warned that next year’s profits may be affected by unfavourable exchange rates and higher investment may affect the margins. If exchange rates remained at the current rate, overall profits will be affected negatively next year. Margins have increased over the past three years, but this may be affected negatively by customer investment and digital platforms.

The company’s overall retail sales increase was 15% and formed 70% of total revenue, BBC says.

The company stated that the move of its beauty business to direct operation from license, and the integration of digital with physical presence is what boosted sales.

Burberry has a strong brand in China and is focusing on entering the Japanese market, with licences expiring in June next year. The company is targeting huge revenue increases in Japan by 2017.

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Mar 31, 2020, France:
The brand will refocus some of its production capacity on producing masks and other protective equipment to join the global fight against the pandemic.
Mar 30, 2020, Germany:
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McDonald's restaurant chain is forced to revise the menu as the coronavirus spreads.
Mar 26, 2020:
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Mar 25, 2020, USA:
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Mar 24, 2020, Sweden:
The total number of closed stores around the world reached 3440 out of 5060.
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