SHARE OF THE WEEK: Investors hoping for eye-catching performance when British fashion house Burberry announces half-year results
Shakira put on a show-stopping display in Burberry’s glamorous Christmas shoot this week.
The 45-year-old Colombian singer donned a see-through dress emblazoned with Burberry branding to kick off the retailer’s festive campaign.
So investors will be hoping for a similarly 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 ongoing Covid lockdowns.
In particular focus will be how Burberry fared on Singles Day, an unofficial holiday in China celebrated on November 11 when unmarried people buy themselves gifts.
It is now the biggest online shopping day in the world, and a crucial source of income for luxury brands.
Susannah Streeter, senior investment and markets analyst at hargreaves Lansdown, said: ‘Mainland China is responsible for a big chunk of Burberry’s revenues.
‘But performance has been dented by renewed Covid restrictions in China over recent months as well as the weakening economic outlook.
‘Its potential is being held back by subdued demand in China, so it sorely needs an upswing in Singles Day sales.’
The latest figures come a little over a month after award-winning fashion designer Daniel Lee, 36, joined as chief creative officer, with his debut collection due at London Fashion Week in February.