|Bid||2,026.00 x 0|
|Ask||2,025.00 x 0|
|Day's range||1,887.00 - 2,038.42|
|52-week range||20.31 - 2,211.00|
|Beta (5Y monthly)||1.18|
|PE ratio (TTM)||395.29|
|Earnings date||13 May 2021|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||19 Dec 2019|
|1y target est||1,915.22|
Burberry’s UK sales dented by Covid travel restrictions. Absence of wealthy tourists deals severe blow to luxury fashion retailer
Burberry sales in China have remained strong despite a backlash following a string of accusations from the West about forced labour in Xinjiang, its chief executive has insisted. Marco Gobbetti told analysts he was pleased with the start of the new financial year in the region as the company updated the City on its performance for the year to March 27. Shares fell as much as 9pc despite sales jumping by almost a third in the last quarter after strong demand from rich shoppers in Asia and America, and the dividend being restored. The recent US sanctions over forced labour conditions in Xinjiang triggered a series of rebuttals from Chinese state media followed by a wider boycott of western retailers including Burberry, H&M, Nike, adidas and Zara. In March, the FTSE 100 company lost a Chinese brand ambassador and its hallmark tartan design was ditched from a popular video game as part of a wider tie-up with Chinese technology giant Tencent.
The Burberry Group plc (LON:BRBY) share price has fallen 10% in early trading but this Fool thinks the company remains a great pick for the long term. The post The Burberry share price (BRBY) has tumbled. Here’s why I’d buy now appeared first on The Motley Fool UK.