Burberry Fiscal 2024 Earnings Overview: Challenges Persist Despite Strong Sales in Classic Categories

Burberry faced challenges in fiscal 2024, with a 4% decline in revenue to £2.97 billion and a 34% drop in adjusted operating profit to £418 million, despite strong sales in classic categories like scarves and raincoats. The luxury brand, which underperformed in its ready-to-wear segment, exceeded some analysts' expectations through tight cost control and strategic adjustments. Looking ahead, CEO Jonathan Akeroyd is optimistic about future growth, focusing on product refinement and operational improvements to reach a medium-term revenue target of £4 billion.

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