Burberry’s shocking profit is a warning sign for Richemont’s numbers this week

Burberry’s shocking profit is a warning sign for Richemont’s numbers this week

In a surprising turn, Burberry Group Plc's unexpected profit warning sends ripples through Europe's luxury sector...
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In a surprising turn, Burberry Group Plc's unexpected profit warning sends ripples through Europe's luxury sector, overshadowing Cie Financiere Richemont SA's imminent report. Analysts predict a challenging year for luxury companies amid a shopper slowdown and a dimming Chinese economy. Bloomberg Intelligence warns of potential risks for Richemont, emphasising the pivotal role of inventory management to prevent discounting. Meanwhile, earnings reports from Just Eat Takeaway.com, Ocado, Experian, and others will offer insights into the volatile consumer landscape and online market dynamics. Investors keenly await updates from Flutter Entertainment and Deliveroo, seeking signs of sustained growth and profitability in the competitive food delivery industry.

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Burberry Shock Shows Risks for Luxury in Upcoming European Earnings

By Maggie Shiltagh and Chloé Meley

Burberry Group Plc gave Europe's luxury sector a jolt on Friday with an unexpected profit warning, casting a cloud over peer Cie Financiere Richemont SA, due to report this week.

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