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H2FY15 sales trot 9% at luxury fashion brand Burberry
17
Apr '15
For fiscal second half ended March 31, luxury fashion brand Burberry plc reported a 9 per cent underlying hike in year over year sales, driven by double digit growth in Americas and EMEIA.

Total revenue at Burberry in the second half of fiscal 2015 rose to £1,423 million, up 9 per cent underlying from the same period of fiscal 2014, with comparable growth too trotting at the same rate.

According to a Burberry press release, double-digit growth in Americas and EMEIA and strong demand for core heritage trench coats and scarves helped drive the growth.

However, the Asia Pacific region posted low single-digit growth rates with further deceleration in Hong Kong, while its digital segment again outperformed in all regions.

Of overall sales, retail revenue grew to £1,059 million, up 13 per cent underlying, while wholesale sales at £331 million remained unchanged underlying.

Consistent with its guidance, licensing revenue reached £33 million, a rise of 3 per cent underlying from the comparable second half of fiscal 2014.

In the period under review, the luxury brand opened a flagship store in Los Angeles and Miami Design District and also in Osaka, Japan while it relocated a store in Tokyo.

For fiscal 2016, Burberry expects net new space to contribute low single-digit growth rates to retail revenue, while wholesale is expected to remain broadly unchanged in the first half of fiscal 2016.

Due to the planned expiration of the Japanese license, licensing revenue is projected to tumble about 40 per cent and benefits from foreign exchange rates will be partly offset by geographic and channel mix.

CEO Christopher Bailey said, "We are pleased to report a robust second half performance, despite an uncertain external environment.”

“We anticipate external challenges will continue in the current year, but remain confident in our long-term strategy to build the Burberry brand and business globally," he added. (AR)

Fibre2fashion News Desk - India


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