Burberry Group PLC (LSE:BRBY)
£ 11.885 0.235 (2.02%) Market Cap: 4.26 Bil Enterprise Value: 5.15 Bil PE Ratio: 9.83 PB Ratio: 3.91 GF Score: 78/100
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Q3 2022 Burberry Group PLC Trading Statement Call Transcript

Jan 19, 2022 / 09:00AM GMT
Release Date Price: £18.67 (+6.32%)
Julie Brown
Burberry Group plc - CFO, COO & Director

Good morning. My name is Julie Brown, Chief Operating and Financial Officer of Burberry. And with me this morning is Julian Easthope, our Head of IR. Slides are available to accompany this presentation on the IR section of our website, and a transcript will also be made available. We will be happy to take your questions at the end of the presentation. Please note, similar to prior quarters, we are referring to comparative sales against 2 years ago as LLY as it is more representative of the underlying trading performance.

Turning to Slide 2. Q3 was a strong quarter with a marked acceleration in full price sales growth to 26% compared with LLY. We see this as a key indicator of brand strength as we took the decision to exit markdowns in our mainline stores and our burberry.com digital platform. This impacted the comp by a low double-digit percentage, and this together with the decline in outlets, took our overall retail comp down 3% this quarter. It is important to say that the impact of the markdown exit on comp will end in our current and

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