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Burberry Upbeat on Outlook But Concerns About China Remain

  • Luxury brand targeting high-single digit revenue growth
  • Covid restrictions in China weighing on Burberry sales
Updated on

Burberry Group Plc held its medium-term forecast steady despite severe lockdowns in parts of China in April and May that hurt demand for luxury products.

The British fashion brand continues to target high-single digit revenue growth and a 20% margin at a constant currency in the medium term, as it “actively manages” the impact of lockdowns in China and soaring inflation in its home UK market, the company said in a statement Friday.