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Burberry Profit Tops Estimates as Bailey Settles in as CEO

Burberry Group Plc’s new chief executive officer, Christopher Bailey, today outlined his vision of growth for the U.K.’s largest luxury-goods maker as he reported full-year earnings that exceeded estimates.

“Tremendous opportunities lie ahead by channel, by region and by product category,” Bailey, 43, said today at his first results presentation in London. The development of Burberry’s beauty business and a transition to fully controlling the company’s Japanese unit “offer exciting further potential.”