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The S & P 500, Dow Jones, and NASDAQ all fell by about 2% on Wednesday, giving back some of the run-up gained in the anticipation of the midterm elections. In addition, interest rates are continuing to increase and the Federal Reserve communicated a hawkish outlook going forward.
BURBERRY GROUP PLC (LSE:BRBY.L)
Share Price: 1,972 GBP
Market Cap: 7.642B GBP
Burberry was founded in 1856 and has its headquarters in London. The company manufactures and sells womenswear, menswear, childrenswear, accessories, beauty products, and leather goods through its many stores, outlets, and online website. It operates in the Americas, Asia, Europe, and Africa.
Burberry is a well known brand. Consumers continue to purchase Burberry products because of the high-end quality that is associated with the company.
Burberry’s earnings over the next few years are expected to increase by 33%, an optimistic outlook for the company.
Over the past three years, Burberry has increased their earnings per share by 7.4% per year, demonstrating that the company is on an upward trend and delivers positive earnings.
With the announcement of Daniel Lee as chief creative officer, the company’s share price has risen about 10% since September. Another positive for the company, showing its ability to acquire top talent.