Bear Stearns' Research Department is First in US to Initiate Coverage of Burberry Group PLC; Could Burberry be the Next Coach?Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 21, 2003 Bear, Stearns & Co. Inc. initiated coverage of Burberry Group PLC with a "Peer Perform" rating making the US securities firm the first to launch coverage of the luxury British brand name famous for its signature check pattern. "Burberry is truly the foremost authentic British lifestyle brand with global recognition and sales that place it among the ten-largest luxury brands in the world," said senior retail analyst Dana Telsey. "Burberry also has a world-class management team with a sharp eye for marketing and merchandising that has been key to the company's successful turnaround." It's a reinvigoration of a brand that Telsey compares to the one seen at Coach. "Like Coach, Burberry has expanded beyond its core product to include a wider range of items like handbags, apparel and shoes many of which do not include the check pattern for which Burberry is famous." It's a product mix that Telsey characterized as "accessible luxury". Retail expansion is another area where the Burberry story is similar to that at Coach. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the report Check it out if You Fancy a Growth Story, the number of Burberry locations nearly doubled last year and new flagship stores are expected to open this year in Barcelona, London and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Burberry is also outlining expansion plans for Asia. "If Burberry's development does in fact mimic the outstanding growth that Coach has achieved over the last couple of years, it's only a matter of time before the rest of the investment community catches on to the Burberry name." For a copy of the report, members of the press may contact Monica Orbe at (212) 272-9294 or morbe@bear.com. Founded in 1923, Bear, Stearns & Co. Inc. is a leading worldwide investment banking and securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the and brokerage firm, and the major subsidiary of The Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. Companies Inc. (NYSE NYSE See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ). With approximately $30.6 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales, trading and research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker dealer services, including securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. . Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has approximately 10,500 employees worldwide. For additional information about Bear Stearns, please visit the firm's Web site at http://www.bearstearns.com. For important information regarding the companies in this report, please contact your registered representative at 1-800-371-0978, or write to Uzi Rosha, Equity Research Compliance, Bear Stearns & Co. Inc., 383 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. , New York, NY 10179 |
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