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Luxury trade, luxury returns
Luxury brand, Burberry, is the target of trader Michael Jarman, Head of Equity Strategy at H20 markets. He says it's mainly because it beat analyst expectations in Q1 by achieving targets of £339m. He also says the fashion group has managed a slowdown in China and Europe ‘seriously well’. Burberry said that the rise in retail revenue in Q1 was driven by robust demand for spring/summer fashion.
The 157-year-old seller of raincoats and leather goods is planning to increase its retail/wholesale margin in its full year. It is mainly expanding in China; in the first quarter Burberry opened seven new stores there, including two in Shanghai.
Michael says the stock has faced resistance at the £16 level, and today he is looking for a stop at £14.64
Burberry is rumoured to have asked tennis player Andy Murray and his girlfriend Kim Sears to be the new faces of the brand. Its latest campaign features actress Sienna Miller and her boyfriend Tom Sturridge.
01:24 minutes
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