SHARE OF THE WEEK: Investors are hoping for an eye-catching performance when British fashion house Burberry announces its half-year results
Shakira put on a stunning display during Burberry’s glam Christmas shoot this week.
The 45-year-old Colombian singer donned a sheer dress embellished with Burberry branding to kick off the retailer’s festive campaign.
Investors are therefore hoping for an equally eye-catching performance when the British fashion house announces its half-year results on Thursday.
Much of the focus will be on China where seemingly insatiable demand for luxury goods has been hit by the ongoing Covid lockdowns.
Particular focus will be on how Burberry fared on Singles Day, an unofficial holiday in China celebrated on Nov. 11 when single people buy each other gifts.
It’s now the biggest online shopping day in the world and a crucial source of revenue for luxury brands.
Susannah Streeter, senior investment and market analyst at hargreaves Lansdown, said: “Mainland China is responsible for a large portion of Burberry’s revenue.
“But performance has been dented by renewed Covid restrictions in China in recent months as well as a weakening economic outlook.
“Its potential is being held back by subdued demand in China, so it badly needs a Singles Day sales pick-up.”
The latest figures come just over a month after award-winning fashion designer Daniel Lee, 36, joined as creative director, with his debut collection due at London Fashion Week in February.
