Burberry Group Plc shares fell more than 2% on Thursday. The luxury group declared no dividend and issued weak wholesale guidance.
First-half wholesale growth is expected at mid-single-digit percentage, below estimates. A currency headwind of about £10 million was flagged.
Full-year gross margin beat estimates at 67.9% versus 65.1% consensus. Adjusted operating profit rose to £160 million.
Sales in EMEIA fell 2% in Q4 due to reduced tourist activity and the Middle East conflict.
The company will not pay a dividend for the first half of the fiscal year.
