// Burberry reveals 1% rise in like-for-likes
// Total retail revenues fell 1%
Burberry has recorded a marginal uptick in like-for-like global store sales during its Christmas quarter, while its total retail revenues fell one per cent.
The luxury British fashion retailer, which posted a three per cent sales decline in its last financial half-year, said comparable store sales rose by one per cent in the 13 weeks to December 29, boosted by robust business in Asia.
Burberry its European division saw a “small” improvement in tourist spending quarter-on-quarter.
Meanwhile, its US sales were hit by falling numbers of shoppers visiting its stores and China saw a “mid-single digit” increase in like-for-like revenues.
While Burberry’s total revenues for the period dropped one per cent on a reported basis, with currency movements stripped out it fell by two per cent.
“I am pleased with our progress in the quarter as we continued to build brand heat around our new creative vision and shift consumer perception of Burberry,” chief executive Marco Gobbetti said.
“We will continue to manage the business dynamically as we reposition the brand. We confirm our outlook for the full year.”