Yeah, it's a fashion blog.
'This isn't a fashion blog, boss.'
What is it then, Voice?
'Er ... I don't know. It was a finance blog when I started here.'
Ha, ha, ha! Well, don't worry, my little disembodied friend, this is a finance PR email from Wealth Club.
'Yippee! Nice one!'
All right, calm down.
Anyway ...
Burberry, the British luxury fashion house, has released its third quarter results:
Like-for-like sales in store increased 1% impacted by The Thing related disruption in Mainland China.
Mainland China sales fell by 23%.
Excluding Mainland China, sales grew 11%.
Near and medium-term targets unchanged - targeting high single digit revenue growth and rising margins.
Oh.
'What does it all mean, boss?'
Charlie can tell us.
'What?! Charlie Huggins?!'
Yeah. Unless he's in one of his perverse moods and refuses to speak to us.
Oh, here he is!
Charlie Huggins, Head of Equities at Wealth Club, comments:
"The Thing related disruptions have impacted Burberry's performance in China this quarter, with sales falling by 23%. But elsewhere, performance is more encouraging. As Thing restrictions in China ease, sales should improve.
"Looking to the medium to longer term, Burberry's success will hinge on the success of new chief executive, Jonathan Akeroyd's strategy to turn around the struggling luxury fashion house.
"The group's performance has been disappointing for many years. Growth and margins have significantly lagged that of European rivals, and operational execution has often left a lot to be desired.
"It's not going to be a quick or easy fix. Elevating a luxury brand like Burberry and creating new products that resonate with consumers takes time, and there are no silver bullets. One thing's for sure - Burberry's operational execution will have to improve if it is to close the gap on its European rivals."
Okay, okay.
But what about Sunspel, Charlie?
Charlie?
Charlie?
'He ain't got nothing to say about Sunspel.'
They must be doing all right then. I suppose.
Anyway ...
ENDS
ENDS
ENDS
...
Anything else?
It's cold, kooks. Very cold.
My fingers are struggling to type this, so you can forget about me playing the guitar until ... I don't know.
'The weather will be better by Thursday.'
You reckon?
'That's what they say ... the idiots.'
Yeah, yeah.
Never mind.
I've been listening to the Goggins audiobook again.
That's all I've got to say.
Laters.
'Stay hard!'
