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Burberry Q3FY17 net sales up 3% on underlying basis
19
Jan '17
For the three months to December 31, 2016, retail sales at fashion brand Burberry was up 4 per cent year over year on an underlying basis at £735 million, while they surged 22 per cent at a reported FX basis. In the same period, comparable sales grew 3 per cent over the year ago period, all driven by good sales performance in all regions worldwide.

Burberry said the Asia Pacific region returned to sales growth, while there was acceleration in China and improvement in Hong Kong, while the EMEIA region reported double-digit growth. However, there was a single digit decline in the American continent.

During the third quarter of fiscal 2017, the brand observed that there was an increased mainline conversion globally and a double-digit lift in spend from returning customers and also that digital outperformed, with growth in all regions.

Burberry also added that cost savings of around £20 million will be delivered in fiscal 2017 as planned, while it has completed £77 million of the £150 million share buyback programme to date. (AR)

Fibre2Fashion News Desk – India


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