Saturday, March 28, 2020

Burberry eyes expansion as store sales rise 12%


British luxury fashion brand & retailer Burberry has today reported total revenues for its second half period of over £1 billion, an 18 per cent increase on last year.

Retail revenues at the business rose 23 per cent in the six months to March 31st 2012, and comparable stores sales increased 12 per cent year-on-year despite weak general consumer spending in some of its biggest markets.

The brand‘s stores have become increasingly central to its success, with retail now accounting for 72 per cent of its overall revenues, and a further 12-14 per cent increase in retail selling space is now planned for the coming year.

Angela Ahrendts, CEO of Burberry, commented: “With underlying revenue up 18 per cent in the second half, we are pleased with Burberry‘s finish to the year across all channels, regions and product divisions.

“Looking ahead, while we remain vigilant about the external environment, our global teams continue to focus on optimising our core brand, digital and cultural initiatives, while investing to drive sustainable, profitable growth.”

Wholesale revenues rose seven per cent over the half-year period to £230 million, with double digit percentage growth in the US, emerging markets and Asia travel retail, while licensing revenues jumped five per cent to £54 million.

It was in retail where Burberry really profited however, increasing its international reach with eleven new stores worldwide, including the company‘s first flagships in Paris & Taipei.

Gains were also reported in social media where the retailer‘s number of Facebook fans has doubled over the last year to reach 12 million.


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