<p>巴寶莉集團 PLC（(BURBY)）已舉行其第二季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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<p>巴寶莉最新的財報電話會議描繪了一幅謹慎樂觀的圖景，因為公司在戰略進展和持續挑戰的複雜環境中前行。會議中表達的情緒是充滿希望的進展，標誌着可比銷售增長的迴歸和毛利率的改善。然而，公司仍在努力應對整體收入的下降，特別是在批發和許可業務方面，以及門店持續的客流問題。儘管面臨這些挑戰，巴寶莉仍受到客户增長和市場信心等積極指標的支持。</p>
<h2>迴歸可比銷售增長</h2>
<p>在第二季度，巴寶莉實現了一個重要里程碑，首次將其零售業務恢復到可比銷售增長。這標誌着消費者參與度和市場表現的積極轉變，顯示出對巴寶莉產品的 renewed interest。</p>
<h2>毛利率改善</h2>
<p>巴寶莉的毛利率實現了 410 個基點的顯著改善，按固定匯率計算達到 67.9%。這主要得益於更健康的庫存狀況，突顯了公司有效的管理策略。</p>
<h2>成本節約與效率</h2>
<p>公司有望在年底前實現 8000 萬英鎊的年化節約，得益於擴大的重組計劃。對成本節約和效率的關注是巴寶莉提升財務表現的關鍵組成部分。</p>
<h2>客户增長增加</h2>
<p>巴寶莉報告稱，全球 Z 世代客户增長了 18%，中國的新客户增長顯著，達到了 10%。這一增長歸因於品牌的真實性和永恆的英國奢華魅力，繼續與年輕人羣體產生共鳴。</p>
<h2>批發市場積極反應</h2>
<p>公司在美國和歐洲的主要批發合作伙伴處訂單顯著增加。這反映了對巴寶莉產品和戰略方向的強烈信心，儘管在其他領域面臨挑戰。</p>
<h2>整體收入下降</h2>
<p>儘管有積極的發展，巴寶莉上半年總收入按固定匯率計算下降了 3%，按報告基礎計算下降了 5%。這一下降主要是由於批發和許可收入的減少。</p>
<h2>批發收入下降</h2>
<p>批發收入下降了 11%，略好於預期，原因是舊香水系列的階段性和去庫存。這影響了整體表現，但通過戰略調整有所緩解。</p>
<h2>許可收入下降</h2>
<p>由於計劃去庫存舊香水系列，許可收入下降了 8%。儘管如此，香水和美容業務表現強勁，顯示出未來增長的潛力。</p>
<h2>客流和銷售挑戰</h2>
<p>巴寶莉門店的客流在全球範圍內仍然面臨挑戰，儘管轉化率有所改善。這表明在吸引客流方面仍然存在持續的困難，這是巴寶莉未來需要解決的關鍵領域。</p>
<h2>運營虧損報告</h2>
<p>巴寶莉報告稱，上半年運營虧損為 1800 萬英鎊，主要歸因於重組成本和其他財務費用。這突顯了公司在實施戰略舉措時面臨的財務挑戰。</p>
<h2>前瞻性指導</h2>
<p>巴寶莉的領導層對公司的未來戰略和財務表現提供了詳細指導。公司在第二季度實現了 2% 的可比零售銷售增長，標誌着兩年來首次實現正增長。總收入為 10.3 億英鎊，調整後的運營利潤為 1900 萬英鎊。巴寶莉有望在年底前實現 8000 萬英鎊的年化節約，預計全年指導不會改變。公司繼續專注於毛利率改善、生產力和現金流，預計零售空間將保持平穩，批發收入全年預計下降中個位數。</p>
<p>總之，巴寶莉的財報電話會議反映出一種謹慎樂觀的前景，因為公司在成就與挑戰之間前行。可比銷售增長的迴歸和毛利率的改善是積極的指標，而收入下降和客流問題則帶來了持續的障礙。巴寶莉在成本節約、客户增長和市場信心上的戰略重點將是其努力增強財務表現和市場地位的關鍵。</p>

巴寶莉(ADR)

<p>巴寶莉的第二季度財報電話會議顯示出在挑戰中謹慎樂觀。該公司實現了兩年來首次可比銷售增長，毛利率提高了 410 個基點。儘管總收入下降了 3%，巴寶莉報告稱客户增長增加，尤其是在 Z 世代中，批發市場反應積極。面臨的挑戰包括批發和許可收入下降、流量問題，以及 1800 萬英鎊的運營虧損。巴寶莉專注於節約成本，目標是實現 8000 萬英鎊的年化節省，並保持對提高毛利率和市場信心的戰略關注</p>

<p>Burberry Group PLC ((BURBY)) has held its Q2 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>巴寶莉集團 PLC（(BURBY)）已舉行其第二季度財報電話會議。請繼續閲讀會議的主要亮點。</p>
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</div><p>Burberry’s latest earnings call painted a picture of cautious optimism, as the company navigates a complex landscape of strategic advancements and persistent challenges. The sentiment expressed during the call was one of hopeful progress, marked by a return to comparable sales growth and improved gross margins. However, the company continues to grapple with a decline in overall revenue, particularly in its wholesale and licensing segments, as well as ongoing traffic issues in its stores. Despite these hurdles, Burberry remains buoyed by positive indicators such as customer growth and market confidence.</p>
<div class="lb-trans"><p>巴寶莉最新的財報電話會議描繪了一幅謹慎樂觀的圖景，因為公司在戰略進展和持續挑戰的複雜環境中前行。會議中表達的情緒是充滿希望的進展，標誌着可比銷售增長的迴歸和毛利率的改善。然而，公司仍在努力應對整體收入的下降，特別是在批發和許可業務方面，以及門店持續的客流問題。儘管面臨這些挑戰，巴寶莉仍受到客户增長和市場信心等積極指標的支持。</p>
</div><h2>Return to Comp Sales Growth</h2>
<div class="lb-trans"><h2>迴歸可比銷售增長</h2>
</div><p>In the second quarter, Burberry achieved a significant milestone by returning its retail business to comparable sales growth for the first time in two years. This marks a positive shift in consumer engagement and market performance, signaling a renewed interest in Burberry’s offerings.</p>
<div class="lb-trans"><p>在第二季度，巴寶莉實現了一個重要里程碑，首次將其零售業務恢復到可比銷售增長。這標誌着消費者參與度和市場表現的積極轉變，顯示出對巴寶莉產品的 renewed interest。</p>
</div><h2>Gross Margin Improvement</h2>
<div class="lb-trans"><h2>毛利率改善</h2>
</div><p>Burberry’s gross margin saw an impressive improvement of 410 basis points, reaching 67.9% at constant exchange rates. This was largely driven by a healthier inventory position, underscoring the company’s effective management strategies.</p>
<div class="lb-trans"><p>巴寶莉的毛利率實現了 410 個基點的顯著改善，按固定匯率計算達到 67.9%。這主要得益於更健康的庫存狀況，突顯了公司有效的管理策略。</p>
</div><h2>Cost Savings and Efficiency</h2>
<div class="lb-trans"><h2>成本節約與效率</h2>
</div><p>The company is on track to deliver GBP 80 million in annualized savings by the end of the year, thanks to an expanded restructuring program. This focus on cost savings and efficiency is a key component of Burberry’s strategy to enhance financial performance.</p>
<div class="lb-trans"><p>公司有望在年底前實現 8000 萬英鎊的年化節約，得益於擴大的重組計劃。對成本節約和效率的關注是巴寶莉提升財務表現的關鍵組成部分。</p>
</div><h2>Increased Customer Growth</h2>
<div class="lb-trans"><h2>客户增長增加</h2>
</div><p>Burberry reported an 18% growth in Gen Z customers globally, with a notable 10% increase in new customers in China. This growth is attributed to the brand’s authenticity and timeless British luxury appeal, which continues to resonate with younger demographics.</p>
<div class="lb-trans"><p>巴寶莉報告稱，全球 Z 世代客户增長了 18%，中國的新客户增長顯著，達到了 10%。這一增長歸因於品牌的真實性和永恆的英國奢華魅力，繼續與年輕人羣體產生共鳴。</p>
</div><h2>Positive Wholesale Market Reaction</h2>
<div class="lb-trans"><h2>批發市場積極反應</h2>
</div><p>The company experienced a significant increase in orders from key wholesale partners in the U.S. and Europe. This reflects a strong confidence in Burberry’s product offerings and strategic direction, despite challenges in other areas.</p>
<div class="lb-trans"><p>公司在美國和歐洲的主要批發合作伙伴處訂單顯著增加。這反映了對巴寶莉產品和戰略方向的強烈信心，儘管在其他領域面臨挑戰。</p>
</div><h2>Overall Revenue Decline</h2>
<div class="lb-trans"><h2>整體收入下降</h2>
</div><p>Despite positive developments, Burberry’s total revenue for the first half declined by 3% at constant exchange rates, or 5% on a reported basis. This decline was primarily due to decreases in wholesale and licensing revenue.</p>
<div class="lb-trans"><p>儘管有積極的發展，巴寶莉上半年總收入按固定匯率計算下降了 3%，按報告基礎計算下降了 5%。這一下降主要是由於批發和許可收入的減少。</p>
</div><h2>Wholesale Revenue Decrease</h2>
<div class="lb-trans"><h2>批發收入下降</h2>
</div><p>Wholesale revenue decreased by 11%, slightly better than guidance, due to phasing and destocking of older fragrance lines. This impacted overall performance but was somewhat mitigated by strategic adjustments.</p>
<div class="lb-trans"><p>批發收入下降了 11%，略好於預期，原因是舊香水系列的階段性和去庫存。這影響了整體表現，但通過戰略調整有所緩解。</p>
</div><h2>Licensing Revenue Drop</h2>
<div class="lb-trans"><h2>許可收入下降</h2>
</div><p>Licensing revenue fell by 8% due to planned destocking of older fragrance lines. Despite this, the fragrance and beauty businesses showed strength, indicating potential for future growth.</p>
<div class="lb-trans"><p>由於計劃去庫存舊香水系列，許可收入下降了 8%。儘管如此，香水和美容業務表現強勁，顯示出未來增長的潛力。</p>
</div><h2>Challenges in Traffic and Sales</h2>
<div class="lb-trans"><h2>客流和銷售挑戰</h2>
</div><p>Traffic at Burberry stores remained challenging globally, although conversion rates improved. This indicates ongoing struggles in attracting foot traffic, a critical area for Burberry to address moving forward.</p>
<div class="lb-trans"><p>巴寶莉門店的客流在全球範圍內仍然面臨挑戰，儘管轉化率有所改善。這表明在吸引客流方面仍然存在持續的困難，這是巴寶莉未來需要解決的關鍵領域。</p>
</div><h2>Operating Loss Reported</h2>
<div class="lb-trans"><h2>運營虧損報告</h2>
</div><p>Burberry reported an operating loss of GBP 18 million for the first half, attributed to restructuring costs and other financial charges. This underscores the financial challenges the company faces as it implements its strategic initiatives.</p>
<div class="lb-trans"><p>巴寶莉報告稱，上半年運營虧損為 1800 萬英鎊，主要歸因於重組成本和其他財務費用。這突顯了公司在實施戰略舉措時面臨的財務挑戰。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</h2>
</div><p>Burberry’s leadership provided detailed guidance on the company’s future strategy and financial performance. The company achieved a 2% growth in comparable retail sales in Q2, marking the first positive comp growth in two years. Total revenue was GBP 1.03 billion, with an adjusted operating profit of GBP 19 million. Burberry is on track to deliver GBP 80 million in annualized savings by year’s end, with no changes expected to its full-year guidance. The company continues to focus on margin improvement, productivity, and cash flow, with retail space anticipated to remain flat and wholesale revenue expected to decline mid-single digits for the full year.</p>
<div class="lb-trans"><p>巴寶莉的領導層對公司的未來戰略和財務表現提供了詳細指導。公司在第二季度實現了 2% 的可比零售銷售增長，標誌着兩年來首次實現正增長。總收入為 10.3 億英鎊，調整後的運營利潤為 1900 萬英鎊。巴寶莉有望在年底前實現 8000 萬英鎊的年化節約，預計全年指導不會改變。公司繼續專注於毛利率改善、生產力和現金流，預計零售空間將保持平穩，批發收入全年預計下降中個位數。</p>
</div><p>In conclusion, Burberry’s earnings call reflects a cautiously optimistic outlook as the company navigates both achievements and challenges. The return to comparable sales growth and improved gross margins are positive indicators, while declines in revenue and traffic issues present ongoing hurdles. Burberry’s strategic focus on cost savings, customer growth, and market confidence will be crucial as it strives to strengthen its financial performance and market position.</p>
<div class="lb-trans"><p>總之，巴寶莉的財報電話會議反映出一種謹慎樂觀的前景，因為公司在成就與挑戰之間前行。可比銷售增長的迴歸和毛利率的改善是積極的指標，而收入下降和客流問題則帶來了持續的障礙。巴寶莉在成本節約、客户增長和市場信心上的戰略重點將是其努力增強財務表現和市場地位的關鍵。</p>
</div>

巴寶莉 (ADR) 的財報電話會議：在挑戰中表現出謹慎的樂觀態度