a good mix of online and high street
to be similar to last year at about £82m.High quality global journalism requires Louis Vuitton sobe bag investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy a decided to take a break from the ubiquitous pattern this season, fashion director Holli Rogers dropped her spot-free mandate after seeing designers who normally shy away from leopard – from Stella McCartney to Mother of Pearl – embrace it with fervour: “Leopard print felt fresh again – something I wasn’t expecting this season at all.” And her advice on how to embrace the look? “My number one tip is to have fun with leopard,” she says.
“Fearlessly e Burberry is growing strongly in its core retaost always an example of status inflation. Whenever I am given the business card of a head of global sales I am tempted to ask how many globes he or she has sold. A Louis Vuitton sofia coppolanewspaper this year ran a cycling event which it described in its advertising as “iconic”. The Tour de France is iconic, a ride around the Surrey Hills isn’t. At Fundsmith we keep a banned word count for the companies we analyse because we think they provide an insight into their management. Our investment approach is about investing in good companies. They are best spotted by their good results – we do not need managements to tell us how good they are
– but when we do listen to il business and profit margins are improving. The group also has a good mix of online and high street locations across the world. However, the shares reflect this – rated at 19.1 times 2014 earnings, falling to 17 times next year. Burberry warned that in the second half the outlook is uncertain and currencies are volatile. Against this backdrop, the group has to Gucci walletdeliver a strong second half performance to hit full-year revenue, profit and earnings forecasts (see table). Questor thinks Burberry is a quality company but wholesale, which accounts for about a third of the business, is not really growing. Also the licensing division which contributes about a fifth of operating