July 1, 2019 / 10:36 AM / 5 months ago

BUZZ-Burberry: New designer's products to push Q1 sales higher - JPM

** Shares of Burberry up 3.2% at 19.2 pounds

** Stock among top gainers on FTSE blue-chip index

** JP Morgan expects Q1 LFL sales to rise 3% or “slightly better” than Q4 LFL growth of 1% as more of new designer Riccardo Tisci’s products hit the stores, with “little help” from forex

** Burberry will report Q1 retail sales on July 16

** JPM says Tisci’s products should represent ~35% by quarter end in Q1 vs 15% by the previous quarter-end, adding that the quarter should also be helped by strong tourism trends into the UK still in the period

** JPM raised FY March fiscal 2020 EBIT estimate by 4%, fully due to a positive currency impact since the last company guidance

Reporting by Justin George Varghese in Bengaluru

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