×
101 733
Fashion Jobs
FOSSIL
Supply Chain Planning Analyst
Permanent · Dallas
MACY'S
Asset Protection Detective, Willowbrook - Full Time
Permanent · Wayne
MACY'S
Asset Protection Security Guard, Lakeside - Full Time
Permanent · Metairie
MACY'S
Asset Protection Detective, Village at Fairview - Full Time
Permanent · Fairview
MACY'S
Asset Protection Security Guard, Highlands of Flower Mound - Part Time
Permanent · Flower Mound
MACY'S
Asset Protection Security Guard, Northpark Center - Part Time
Permanent · Dallas
MACY'S
Asset Protection Captain, Herald Square - Full Time
Permanent · New York
MACY'S
Asset Protection Detective, Lakeside - Part Time
Permanent · Sterling Heights
MACY'S
Asset Protection Detective, Stanford - Part Time
Permanent · Palo Alto
MACY'S
Asset Protection Detective, Concord Sunvalley - Full Time
Permanent · Concord
MACY'S
Asset Protection Detective, Ridgedale - Part Time
Permanent · Minnetonka
MACY'S
Asset Protection Detective, Ballston Common - Part Time
Permanent · Arlington
MACY'S
Asset Protection Detective, Valley Fair - Full Time
Permanent · Santa Clara
MACY'S
Asset Protection Detective, Center City - Flex
Permanent · Philadelphia
MACY'S
Asset Protection Detective, West County Center - Full Time
Permanent · St. Louis
MACY'S
Asset Protection Detective, Walt Whitman - Full Time
Permanent · Huntington Station
MACY'S
Asset Protection Detective, Easton - Full Time
Permanent · Columbus
MACY'S
Asset Protection Detective, Fair Oaks - Part Time
Permanent · Fairfax
MACY'S
Asset Protection Captain, River Oaks Center - Full Time
Permanent · Calumet City
MACY'S
Asset Protection Detective, Northridge Fashion Center - Part Time
Permanent · Los Angeles
MACY'S
Asset Protection Detective, Plaza Bonita - Part Time
Permanent · National City
MACY'S
Asset Protection Detective, Bay Plaza - Part Time
Permanent · New York
By
Reuters
Published
Nov 12, 2014
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Burberry says foreign exchange impact to fade

By
Reuters
Published
Nov 12, 2014

PARIS, France - British luxury brand Burberry said the impact of foreign exchange rates would fade after weighing on profit and sales in the first half of its financial year.

The fashion company, which has launched a high-profile Christmas campaign featuring 12-year-old Romeo Beckham, son of soccer star David and designer Victoria, said trading remained tough, "with pockets of weakness in Europe."


The Cotton Poplin Trench Coat from Burberry | Photo: Burberry



Burberry reported an adjusted profit before tax of 152 million pounds ($242 million) for the six months to Sept. 30, which was broadly in line with forecasts.

Foreign exchange rates shaved off 75 million pounds in revenue and 31 million pounds in profit in the first half but should become less of a factor.

"At current rates, we do not expect foreign exchange to have a material impact on underlying profits for the second half," Burberry Finance Director Carol Fairweather told a conference call with journalists.

Burberry said demand from the Chinese, which fell significantly in recent months, had not really improved while spending by the Russians, which have seen the value of the rouble collapse in the past week, also remained lower.

However, the company said it continued to trade better than many of its luxury rivals in China, where it bought out franchise partners three years ago.

Burberry shares were down 2.4 percent at 1492 pence by 0925 GMT.

The company proposed raising the interim dividend by 10 percent to 9.7 pence a share, which it said reflected its intention to move progressively to a 50 percent earnings payout level over the next three years.

The Christmas season is the first since Christopher Bailey took over as chief executive at Burberry, combining the role with that of chief creative officer.

Last week, Burberry took over Printemps' shop windows with interactive wifi-enabled gimmicks and displayed an array of trenchcoats, shoes and dresses exclusive to the Paris department store.

"We think we have never been better positioned for the festive period," Fairweather said.

1 US dollar = 0.6283 British pound


 

© Thomson Reuters 2021 All rights reserved.