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Burberry's retail revenue up by 14%
15 Jul '08
4 min read
Spain is expected to show continued weakness (down double-digits) offset by good growth in all other regions, especially North America (up by over 20%) and Emerging Markets.
In what is a small quarter for wholesale, revenue in the first quarter increased by 43% on an underlying basis (45% reported), reflecting earlier shipments of Autumn/Winter 2008 merchandise.
This was facilitated by continued improvement throughout Burberry's supply chain (sourcing, logistics and distribution).
As a result of these earlier deliveries, all regions except Spain saw exceptional growth. The majority of first half wholesale merchandise will continue to be delivered in the second quarter of the year.
Sales to Emerging Markets doubled in the first quarter, largely reflecting earlier wholesale shipments, particularly to China.
Comparable store sales growth in the franchise stores was very strong in the Middle East and Russia and a new store was opened in Baku, Azerbaijan.
Licensing:
Total licensing revenue in the first quarter increased by 3% on an underlying basis (up 5% reported), benefiting from phasing differences year-on-year.
Excluding these, Japanese volumes in apparel and non-apparel were marginally down in the quarter, offset by good growth in global licences, especially fragrances and timepieces.
This performance is consistent with Burberry's expectation for the full financial year of broadly flat licensing revenue on an underlying basis.
In what is a small quarter for wholesale, revenue in the first quarter increased by 43% on an underlying basis (45% reported), reflecting earlier shipments of Autumn/Winter 2008 merchandise.
This was facilitated by continued improvement throughout Burberry's supply chain (sourcing, logistics and distribution).
As a result of these earlier deliveries, all regions except Spain saw exceptional growth. The majority of first half wholesale merchandise will continue to be delivered in the second quarter of the year.
Sales to Emerging Markets doubled in the first quarter, largely reflecting earlier wholesale shipments, particularly to China.
Comparable store sales growth in the franchise stores was very strong in the Middle East and Russia and a new store was opened in Baku, Azerbaijan.
Licensing:
Total licensing revenue in the first quarter increased by 3% on an underlying basis (up 5% reported), benefiting from phasing differences year-on-year.
Excluding these, Japanese volumes in apparel and non-apparel were marginally down in the quarter, offset by good growth in global licences, especially fragrances and timepieces.
This performance is consistent with Burberry's expectation for the full financial year of broadly flat licensing revenue on an underlying basis.
Burberry Group plc
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