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Burberry reports 30% total revenue rise in H1

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Luxury fashion group Burberry has reported a rise in total revenue of 30 per cent to £830 million, in its half-year trading statement released today.

The retailer, which revealed figures on trading for the six months to September 30th 2011, saw retail revenue increase by 45 per cent to £528 million, with flagship markets including New York, London, Paris, Hong Kong and Dubai performing strongly.

Like-for-like sales increased by 16 per cent in the period, while same-store sales growth in its Chinese stores stands at around 30 per cent.

Wholesale revenue was also positive, up nine per cent compared to the same period in 2010 to £248 million, and an increase of 20 per cent excluding China.

Launching a number of new initiatives including men’s accessories and tailoring as well as Burberry Body fragrance has contributed to growth, as the brand used social media outlets to drive brand recognition.

Core outerwear and large leather goods performed best during the half, while wholesale growth was led by Americas, emerging markets and travel retail.

These results follow the resignation of merchandising boss Adrian Ward-Reese who jumped ship to menswear retailer Ben Sherman in August.

Angela Ahrendts, CEO of the company, was pleased with the results, pointing out that Burberry has opened net eight mainline stores, maintaining a focus on flagship markets, leaving capital expenditure still planned at £180-200 million in the full year.

“Our first-half performance, with 30 per cent 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,” she added.

“Looking forward, our focus remains on investing to drive growth and executing our innovative strategies in product design, digital marketing and retail, while being fully prepared to respond appropriately should we see any significant change in luxury demand.”

Published on Wednesday 12 October by Editorial Assistant

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