Earnings week ahead points to luxury sector woes and some bank blues

Richemont’s resilient jewellery business should act as a buffer, but there’s no let-up in sight for Burberry as it navigates a strategy turnaround, with hundreds of jobs potentially on the line

Burberry’s retail same-store sales likely slid 16% in its fiscal first quarter, consensus shows. Picture: Jonathan Brady/PA Wire

Cartier-owner Richemont and trenchcoat-maker Burberry face challenging year-earlier comparisons when they report next week as earnings season returns in earnest.

For both, last year’s fiscal first quarter coincided with China’s re-emergence from lockdown, offering growth before demand swooned later in the year.