Future Of British Business
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
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.