Burberry Group plc (GB:BRBY) has released an update.
Burberry Group PLC reported fiscal year 2024 results with revenue down 4% to £2,968 million, and a decline in adjusted operating profit by 34% to £418 million. Despite a challenging retail environment and decreased luxury demand, Burberry progressed in redefining its brand image and advancing its sustainability initiatives. The company completed a £400 million share buyback and forecasts wholesale revenue to drop 25% in the first half of FY25 as it strengthens brand control.
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