AGENDA - burberry Corporate Website
Transcript of AGENDA - burberry Corporate Website
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PRELIMINARY RESULTS 2019
AGENDA
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STRONG PROGRESS
IN THE LAST YEAR
Financial performance in line with guidance
Promising early results from the transformation
JULIE BROWN
CHIEF OPERATING & FINANCIAL OFFICER
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P P
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MARCO GOBBETTI
CHIEF EXECUTIVE OFFICER
BRAND
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INFLUENCER EARNED MEDIA VALUE
SEP 18 SHOW FEB 19 SHOW
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PRESS REACTION
FEB-MAR 18 FEB-MAR 19
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“FOR HIS SECOND OUTING, CHIEF CREATIVE OFFICER RICCARDO TISCI TURNED OUT A TOUR
DE FORCE: BOLD AND ALL-EMBRACING”
– VOGUE.CO.UK
SOCIAL PERFORMANCE
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PRODUCT
JUDY COLLINSON
CHIEF MERCHANDISING OFFICER
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NEW CREATIVE VISION
The first Runway SS19 was a defining moment
NEW BURBERRY LANGUAGE
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ICON STRIPE
THE MONOGRAM
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THE MONOGRAM PRINT
WARDROBING
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LEATHER GOODS TRANSITION
READY TO WEAR TRANSITION
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PRICING
CONTINUOUS ENGAGEMENT
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MARCO GOBBETTI
CHIEF EXECUTIVE OFFICER
RICCARDO’S FIRST
COLLECTION RESULTS
SS19SS18
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CUSTOMERS
TOTAL BUSINESS SS19
LEATHER GOODS
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LEATHER GOODS
Leather goods evolution will take time
Investing in product quality
Step-change in agility and efficiency
Focus on quality
Streamlining processes
SUPPLY CHAIN INNOVATION
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Changed the way we buy
Maximise new product
Proactively manage previous collections
MANAGING INVENTORY
DELIVERING RICCARDO’S PRODUCT
Note: mainline and digital only
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RETAIL
57TH STREET – NEW YORK
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MONTENAPOLEONO - MILAN
FAOUBOUR - PARIS
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SPRING STREET – NEW YORK
DUBAI
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KERRY CENTRE - SHANGHAI
OMETESANDO – TOKYO
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CHENGDAM-DON – SEOUL
MORE THAN 80 STORES TO BE TRANSFORMED BY END OF FY 2020
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POP UP
ONE PAGE ISETAN ONE PAGE SKP, #S OF RETAIL AND WHOLESALE THIS
YEAR AND PLANNED NEXT YEAR
POP UP
ONE PAGE ISETAN ONE PAGE SKP, #S OF RETAIL AND WHOLESALE THIS
YEAR AND PLANNED NEXT YEAR
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WHOLESALE
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US WHOLESALE DOORS
DIGITAL
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INSTAGRAM & INFLUENCER CHECKOUT
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PEOPLE
Increased employee engagement
Focus on leaders
Diversity & inclusion
PEOPLE
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OUR SUSTAINABILITY AGENDA
THE FIRST YEAR
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THE FIRST YEAR
Brand relaunch
Heat with press, influencers, wholesale partners and consumers
Transformation in product aesthetic and quality, with encouraging early sales
Evolution of store environment
Continued innovation across the business
LOOKING AHEAD
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APM Description and purpose GAAP measure reconciled to
Constant Exchange Rates (CER) This measure removes the effect of changes in exchange rates compared to the prior period. It incorporates both the impact of the movement in exchange rates on the translation of overseas subsidiaries’ results and also on foreign currency procurement and sales through the Group's UK supply chain.
Results at reported rates
Comparable sales The year-on-year change in sales from stores trading over equivalent time periods and measured at constant foreign exchange rates. It also includes online sales. This measure is used to strip out the impact of store openings and closings, allowing a comparison of equivalent store performance against the prior period.
Revenue excluding beauty wholesale Revenue excluding beauty wholesale is presented to exclude beauty wholesale from total revenue. This provides an equivalent measure of revenue against the prior period, following the disposal of the beauty business in October 2017.
Total Revenue:
Period ended £m
30 March 2019
31 March 2018
Revenue excluding beauty wholesale
2,720 2,660
Beauty wholesale 0 73
Total Revenue 2,720 2,733
Retail Revenue:
Period ended YoY%
30 March 2019
31 March 2018
Comparable sales 2% 3%
Change in space (1%) 0%
IFRS 15/Retail Calendar 0% 0%
FX (1%) (1%)
Retail revenue 0% 2%
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APM Description and purpose GAAP measure reconciled to
Adjusted Profit Adjusted profit measures are presented to provide additional consideration of the underlying performance of the Group’s ongoing business. These measures remove the impact of those items which should be excluded to provide a consistent and comparable view of performance.
Reported Profit:A reconciliation of reported profit before tax to adjusted profit before tax is included in the income statement. The Group’s accounting policy for adjusted profit before tax is set out in the financial statements.
Free Cash Flow Free cash flow is defined as net cash generated from operating activities less capital expenditure plus cash inflows from disposal of fixed assets and excluding the net one-off operating cash inflow for deferred income relating to the beauty licence.
Net cash generated from operating activities:
Cash Conversion Cash conversion is defined as free cash flow pre tax/adjusted profit before tax. It provides a measure of the Group’s effectiveness in converting its profit into cash.
Lease Adjusted Net Debt Defined as five times minimum lease payments, adjusted for charges and utilisation of onerous lease provisions, less net cash. This is considered to be a reasonable estimate of the Group’s net debt, including operating lease debt which is currently off balance sheet.
Period ended £m
30 March 2019
31 March 2018
Net cash generated from operating activities
411 678
Capital expenditure (110) (106) One-off cash inflow for beauty licence
- (88)
Free cash flow 301 484
Period ended £m
30 March 2019
31 March 2018
Cash conversion 93% 128%
Net cash:
Period ended £m
30 March 2019
31 March 2018
Net cash 837 892 Operating lease debt (1,246) (1,219)
Lease adjusted net debt (409) (327)
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