Burberry Outlook Limited to ‘Top Half’ of Estimates

Burberry Group Plc, the U.K.’s largest luxury retailer, said annual profit will be in the “top half” of analysts’ estimates, disappointing those who expected upgrades after second-quarter sales beat their goals.

Adjusted pretax profit will be 240 million pounds ($381 million) to 270 million pounds, Chief Financial Officer Stacey Cartwright said today on a call with journalists. Second-quarter sales increased 11 percent to 382 million pounds, the London- based company said, more than the 367.8 million-pound average estimate of four analysts compiled by Bloomberg.