EarningsQ4 2026 Earnings Report
DE:BB2A Q4 2026 EPS Results
Actual EPS€0.17
Consensus EPS€0.20
Beat/MissMissed by -€0.02
One Year Ago EPS€0.04
DE:BB2A Q4 2026 Revenue Results
Actual Revenue€1.64B
Expected Revenue€1.67B
Beat/MissMissed by -€32.80M
YoY Revenue Growth+6.34%
Earnings Announcement Details
QuarterQ4 2026
Date05/14/2026
TimeBefore Open
Conference CallThursday, May 14, 2026
DE:BB2A Upcoming Earnings
Burberry Group's next earnings date is estimated for November 12, 2026, based on past reporting schedules.
Q4 2026 Earnings Call Audio
DE:BB2A Q4 2026 Earnings Call
0:00 / 0:00
Q4 2026 Earnings Slide Deck
Q4 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a clear operational turnaround: comparable sales recovery, sizeable gross margin expansion (+530 bps to 67.9%), a meaningful increase in adjusted operating profit (GBP 160m versus GBP 26m), stronger free cash flow and reduced leverage (net debt/EBITDA 1.6x). Brand and category momentum (scarves, outerwear), successful marketing campaigns, e-commerce acceleration and delivered cost savings underpin confidence. Headwinds include a reported revenue decline (-2%), annual wholesale (-4%) and licensing (-9%) weakness, traffic/tourism pressures in some regions (Japan, parts of EMEA), modest AUR pressure and expected one-off restructuring costs (~GBP 5m in FY '27). On balance, the positive financial improvements, operational momentum and deleveraging outweigh the remaining challenges, and management is positioned to invest for further growth while targeting continued margin expansion.Company Guidance
Return to Comparable Sales Growth
Comparable retail sales returned to growth: +2% for FY '26 with sequential momentum and a Q4 comp of +5%. Greater China and the Americas each delivered double-digit Q4 comps of +10%.
Material Gross Margin Expansion
Gross margin increased by 530 basis points at constant exchange rates to 67.9%, driven by inventory reset actions and higher-quality, more full-price sell-through.
Strong Operating Profit Recovery
Adjusted operating profit rose to GBP 160m (from GBP 26m prior year), with adjusted operating margin expanding to 6.6%.
Improved Earnings and Cash Generation
Adjusted EPS improved to 15.2p. Free cash flow improved to GBP 141m (vs GBP 65m prior year). Cash from operations was GBP 582m, up GBP 56m year-on-year.
Significant Deleverage and Balance Sheet Strengthening
Net debt to adjusted EBITDA reduced to 1.6x (from 2.3x a year ago), helped by repayment of a GBP 300m bond and lower borrowings (GBP 511m vs GBP 738m).
Cost Savings Program on Track
Delivered GBP 80m of annualized savings in FY '26 and on track to deliver ~GBP 100m of annualized savings by FY '27 while protecting consumer-facing investment.
Category & Channel Momentum
Hero categories outperformed: scarves and outerwear posted double-digit growth in H2. E‑commerce accelerated (high‑teens growth in Q4). Scarf bars rolled out (>200) and category destinations and fixtures (polo caddies, cashmere shops) are driving productivity and store sell-through.
Marketing & Brand Relevance Driving Acquisition
Campaigns (e.g., Portraits of an Icon) delivered triple-digit increases in earned engagement and broad media value. Strong customer acquisition in Greater China, including double-digit Gen Z growth.
Wholesale Momentum in Second Half
Wholesale improved in H2 (+3%) versus full year decline; management expects wholesale revenue to grow mid-single-digits in H1 FY '27, signaling partner confidence.
DE:BB2A Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed