Burberry announced results for quarter 4 ending December 31, 2012.Highlights for the three months to 31 December 2012
Total revenue £613m, up 9% underlying
Retail revenue £464m, up 13% underlying
- Comparable store sales grew 6%
- Outerwear contributed about half of mainline growth
- Prorsum and London further increased penetration
- Scarves, mens tailoring and accessories outperformed
Wholesale revenue £120m, down 5% underlying
- H2 underlying wholesale revenue now expected to be down low to mid single-digit percentage year-on-year
- Growth in US, Asia Travel Retail and Emerging Markets more than offset by weaker Europe
Licensing revenue £29m, up 4% underlying
- Double-digit growth from global product licences
- Innovative launch of The Britain watch
- Fragrance and beauty integration on plan
Further strategic and operational progress
- Opened seven stores, including new flagship in Chicago
- Digital commerce outperformed
- Spring 2013 advertising campaign generated record social media engagement
Angela Ahrendts, Chief Executive Officer, commented:
“Burberry delivered 13% underlying retail growth in the third quarter, benefiting from a particularly strong week in the run up to Christmas. In an otherwise difficult quarter, core outerwear, mens and digital all outperformed. We expect the external global environment to remain challenging, but see continued opportunities to drive productivity in our existing business, while investing for growth in under-penetrated regions, product categories, channels and mediums.”