Saturday 24 June 2017

Far East lags as Burberry sees strong sales in Western region

Burberry seen strong demand for the latest versions of its signature trench coats, pictured, and scarves as well as 'exceptional growth' for Burberry’s ponchos.
Burberry seen strong demand for the latest versions of its signature trench coats, pictured, and scarves as well as 'exceptional growth' for Burberry’s ponchos.

Luxury fashion label Burberry said it enjoyed a "robust" second half boosted by strong demand in American and European markets but saw a weaker performance in the Far East.

The group said total revenues of £1.42bn (€1.97bn) for the six months to the end of March were ahead by 9pc on an underlying basis.

Its stores saw comparable sales up 9pc, amid strong demand for the latest versions of its signature trench coats, pictured, and scarves as well as "exceptional growth" for Burberry's ponchos.

Retail saw double digit growth in the Americas and the Europe, Middle East, India and Africa region but only saw low single-digit growth in Asia Pacific, including "further deceleration" in its high-margin Hong Kong market.

Burberry said digital sales "again outperformed in all regions".

Wholesale revenues were unchanged at £331m, with beauty products, including the My Burberry perfume, ahead, while excluding beauty there was a decline.

Chief executive Christopher Bailey said: "We are pleased to report a robust second half performance, despite an uncertain external environment.

"Customers responded strongly to product innovation, especially in our core British-made heritage trench coats and scarves, while we continued to invest in digital and retail initiatives, including flagship openings in Los Angeles and Japan.

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