Sunday 21 January 2018

Burberry posts strong Christmas sales

Luxury brand Burberry posted a 14pc rise in underlying retail revenue in the Christmas quarter, though it cautioned that at current levels, exchange rates will be a significant headwind in the balance of its second half.

The 158-year-old seller of raincoats and leather goods, known for its camel, red and black check pattern, said on Wednesday it made £528m (€635m) of retail revenue in the three months to Dec. 31.

That compared to analyst's average forecast of £520m, £464m in the same period last year and first half growth of 17pc.

Comparable store sales growth was 12pc, compared to 13pc in the first half.

"The macro environment remains uncertain, but we are confident that our proven strategies will continue to deliver long-term value for shareholders," it said, adding that its full year guidance on retail, wholesale and licensing was unchanged.

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