UK: Burberry’s first-half sales surge up 30%
Luxury company Burberry Group has posted a 30% underlying sales rise in the first half of the fiscal year, boosted by undiminished demand in flagship and emerging markets.
Egytex News Desk
Source: http://www.mrketplace.com
The UK-based company said retail momentum had been maintained throughout the six-month period to September 30, while wholesale and licensing revenues (up 9% and 4% respectively) were in line with company guidance.
Comparable store sales were up 16%, thanks to strong performances from Burberry’s flagship markets, including New York, London, Paris, Hong Kong and Dubai.
The company continued to see comparable sales growth of about 30% in its acquired stores in China, despite concerns that demand there would be hit by economic uncertainty.
Wholesale revenues were up 20% excluding China, led by demand in the Americas, emerging markets and travel retail.
Burberry said its core outerwear and large leather goods business had driven half of its retail growth, and highlighted the impact of new initiatives, such as men’s accessories and tailoring, on wholesale growth.
“Our first half performance, with 30% revenue growth, clearly demonstrates the continuing global momentum of the Burberry brand, underpinned by consistent and balanced double-digit growth in retail and wholesale, all regions and all product categories,” said Angela Ahrendts, Burberry CEO
Source: http://www.mrketplace.com
From the Egytex news archive, first published on 17 October 2011. Figures and names are as reported at the time.
