Home / Knowledge / News / Fashion / Burberry 2017 revenue down 2% on underlying basis
Burberry 2017 revenue down 2% on underlying basis
22
May '17
Burberry's revenue for fiscal 2017 was down 2 per cent year over year on an underlying basis at £2.8 billion, while it surged 10 per cent at a reported FX basis. In the same period, its adjusted profit before tax stood at £462 million year over year, down 21 per cent on an underlying basis, due to taking strategic actions to elevate the brand.

Cost savings of £20 million has been attained in fiscal 2017. The company plans to increase the savings to £50m in FY 2018 and to at least £100 million by FY 2019.

“2017 was a year of transition for Burberry in a fast changing luxury market.  The actions we have taken to lay the foundations for future growth are yielding early benefits and I remain confident that these will build over time," said Christopher Bailey, chief creative and chief executive officer.

"Marco Gobbetti assumes the role of CEO from July. With his extensive experience in the sector, we will build on these foundations to elevate and strengthen the brand further and take Burberry to the next level as a global luxury retail and digital business. I am excited to work closely with him in this next chapter," Bailey added. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Sympatex Technologies

Textiles | On 23rd Feb 2018

Sympatex, Ricosta jointly move towards sustainability

Sympatex Technologies is moving towards sustainability with its...

Courtesy: Business wire

Information Technology | On 23rd Feb 2018

CLO Virtual Fashion launches CLO 4.0 & new website

CLO Virtual Fashion, a leading developer of cutting-edge 3D garment...

HKL Magu welcomes Amitabh Kant, CEO, NITI Aayog; Courtesy: AEPC

Apparel/Garments | On 23rd Feb 2018

AEPC completes 40 years of operation

The Apparel Export Promotion Council (AEPC) has successfully...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Harmeet Singh

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

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Giorgio Mantovani
Corman S.p.A

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

February 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
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

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
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

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
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

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
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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