Burberry first half revenue up 14%
Luxury fashion brand Burberry has reported a 14% rise in first half revenue after seeing a strong performance across all of its regions and continued online growth.
In the six months to 30 September, total revenue reached £1.1 billion while retail revenue climbed by 15% to £748 million.
Burberry said retail comparable sales growth increased by 10% in the period. Although growth was 12% in the first quarter, this slowed to 8% in the second quarter due to “external factors in some markets.”
Online sales continued to outperform in the period.
Never Miss a Retail Update!Christopher Bailey, Burberry chief creative and chief executive officer, said: “This has been a strong first half for Burberry, with sales growth of 14% reflecting our ongoing brand and business momentum.”
Burberry said some of the best performing products included rainwear, soft accessories, womens Prorsum, solid leather bags and men’s tailoring.
During the period, the company opened nine mainline stores and closed eight. In addition, six airport stores were opened in Hong Kong, London Heathrow, Barcelona, Madrid, Milan Malpensa and Rome.
Looking ahead Burberry said that if exchange rates remained at current levels, the full impact on reported retail and wholesale full year profit would be “material”.
Bailey added: “While mindful of the more difficult external environment, we have never been better prepared internally for the all-important festive periods, with our teams intensely focused on delivering outstanding products and experiences, alongside continued investment to drive productivity and profitable growth over the long term.”
