Burberry boss pockets £3.5m share bonus

Burberry chief creative officer Christopher Bailey has received a £3.5 million bonus from shares.

Bailey – who will also become the president once Marco Gobbetti steps into the chief executive role on July 5 – received the bonus as part of a reward scheme that the high-end fashion retailer delayed last year.

The news comes after Burberry ended 2016 with a three per cent rise in like-for-like sales in the three month period ending December 31, boosted by 40 per cent surge in the UK market and a return to growth in China.

READ MORE: Burberry’s UK market surges 40% from weak pound

The luxury British fashion retailer also said its retail sales increased by four per cent on an underlying basis to £735 million.

The results are a contrast to Burberry‘s half-year report, in which is posted a four per cent call in sales on an underlying basis to £1.2 billion, and profit before tax was down 34 per cent to £102 million compared to the same period in 2015.

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