Home / Knowledge / News / Apparel/Garments / Burberry's retail revenue up by 14%
Burberry's retail revenue up by 14%
15
Jul '08
Burberry Group plc, the global luxury company, reports on trading for the three months to 30 June 2008.

"I am pleased with Burberry's start to the year in an increasingly challenging external environment. Our brand momentum is strong, driven by product innovation and a focused management team.

This momentum, together with the diversity and balance we have across products, channels and regions, underpins our confidence for the future."

There will be a conference call for investors and analysts to discuss this update at 9am (UK time). The conference call can be accessed live on the Burberry website, with a replay available later.

Burberry will release its First Half Trading Update for the six months to 30 September 2008 on 14 October 2008. It will announce its interim results for the six months to 30 September 2008 on 18 November 2008.

Total revenue:
Total revenue in the first quarter increased by 22% on an underlying basis (26% reported). There was double-digit growth in both the retail and wholesale channels; in Europe, Americas, Asia Pacific and Emerging Markets; and in womenswear, menswear, non-apparel and childrenswear.

This performance demonstrates the continued momentum of the brand, the impact of supply chain initiatives and the increased strength of Burberry's operations by channel, region and product.

Spain remains a challenging market in which Burberry continues to implement a series of initiatives, as discussed at the time of the preliminary results.

Retail:
Retail sales, which accounted for over half of total revenue in the period, grew by 14% on an underlying basis (19% reported).

As a result of the excess stock in the business at the year-end, proportionally more inventory was sold year-on-year during the usual sale period, which continues into the second quarter.

Non-apparel contributed most to retail growth. Product highlights included lightweight outerwear, shoes and other accessories including belts. Revenue also benefited from earlier Autumn/Winter 2008 receipts.

In the first quarter, when the competitive environment remained volatile, Burberry's comparable store sales increased by 4.5%, including Spain which was down double-digits.

The Americas remained the best performing region, with particular strength in major cities such as New York, San Francisco and Chicago.

Europe and Asia both showed positive comparable sales growth, led by countries including France, Germany and Korea.

During the quarter, Burberry opened mainline stores in Cannes and Budapest, as well as a net 14 concessions in Italy, Korea and Spain, including four new childrenswear corners.

There was a 12% increase in average selling space year-on-year in the first quarter, with 12-13% expected for the year as a whole.

Wholesale:
For the six months to 30 September 2008, based upon orders received to date, Burberry expects wholesale revenue to increase by over 10% year-on-year on an underlying basis.


Must ReadView All

Building of Ethiopian textile unit by Chinese firm starts

Textiles | On 22nd Jan 2018

Building of Ethiopian textile unit by Chinese firm starts

Chinese firm Wuxi No. 1 Cotton Mill will build a textile plant in...

India’s silk board chief stresses need to boost production

Textiles | On 22nd Jan 2018

India’s silk board chief stresses need to boost production

Silk production in India needs to be increased as inadequate...

Kenya AGOA aims doubling 2016 exports value to US by 2025

Apparel/Garments | On 22nd Jan 2018

Kenya AGOA aims doubling 2016 exports value to US by 2025

The United States Agency for International Development (USAID) Hub in ...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Top executives
Textile & apparel bodies

The decision is transformational

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search