Member Article

Revenues up at Burberry despite profit worries

Fashion house Burberry has reported underlying revenue growth of 15%, to £604 million, for the three month period ending 31 December.

The London designer and retailer saw an increase in comparable sales of 8%, with double digit growth in Americas and EMEIA.

Burberry has blamed low single digit growth in Asia on disruption in Hong Kong and its high margin market.

Burberry, which was founded in Basingstoke in 1856, opened several new stores in 2014 including a flagship store on Rodeo Drive in Beverly Hills.

Excluding beauty products, the fashion house expects wholesale revenue to dip in the six months ending 31 March 2015 due to constant exchange rates.

The first half of 2014 was significantly affected by exchange rates and the retailer does not effect a material impact in the second half of 2015, should the exchange rates remain at current levels.

Christopher Bailey, Chief Creative and Executive Officer, said: “We’re pleased to report a strong performance over this important period, during which our teams worked tirelessly to bring the very best of the brand to the customer in our stores and online.

“15% underlying growth in retail sales reflects this commitment to every element of the customer experience, from product, to marketing, to service.

“Looking ahead, we will bring equal focus to maximising the opportunities of the final quarter - including Lunar New Year - while being mindful of what remains a challenging external environment.”

This was posted in Bdaily's Members' News section by Ellen Forster .