Saturday 23 September 2017

Burberry checks in 8pc sales rise

In a statement, Burberry said its total revenue was £883m (€1.1bn), up 8pc, while retail turnover jumped 10pc.
In a statement, Burberry said its total revenue was £883m (€1.1bn), up 8pc, while retail turnover jumped 10pc.
Colm Kelpie

Colm Kelpie

UK luxury goods retailer Burberry -- which sells its brand in Brown Thomas in Ireland -- recorded an 8pc increase in turnover in the six months to the end of September. But sales dipped in China between April and June.

In its first half trading update, the company -- known for its red, black and camel check -- sought to reassure markets after it issued a surprise profit warning last month sending its shares tumbling by 19pc.

It warned that its full-year profits would be at the lower end of expectations as a result of weak consumer demand.

In a statement, Burberry said its total revenue was £883m (€1.1bn), up 8pc, while retail turnover jumped 10pc.

Angela Ahrendts, chief executive, said footfall had declined but brand momentum remained strong.

"We continue to invest for long-term growth in flagship and emerging markets, while tightly controlling discretionary spend," she said.

Irish Independent

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