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FY17Q1 sales flat on underlying basis at Burberry
19
Jul '16
For the three fiscal month period to June 30, 2016, retail revenue at luxury fashion brand Burberry stood at £423 million, unchanged from the same quarter of 2015 on an underlying basis, but up 4 per cent on a reported basis.

“However, in the first fiscal quarter of 2016-17, comparable sales were down 3 per cent from a year ago quarter and excluding Hong Kong and Macau, sales rose in Asia Pacific,” Burberry said in a trading statement.

According to the company, digital grew strongly in all regions and mobile traffic to its site now makes up for 60 per cent of all traffic, while fashion apparel and accessories outperformed in the reporting quarter.

“There has been a good customer response to innovation and newness, while offering an elevated service and more in-store craftsmanship events to enhance customer engagement,” the company added.

CEO Christopher Bailey said, “We continue to focus on managing our business with agility whilst implementing the strategies we outlined in May, to position Burberry for long-term growth.”

“These plans are now well underway and on track to deliver our financial goals and this progress, together with our recent management appointments, gives us real confidence for the future,” he too added. (AR)

Fibre2fashion News Desk - India

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