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Tuesday January 19th 2010
Strong trading for Burberry
Archived article dated Tuesday January 19th 2010
In its third quarter trading update for the three months to 31 December 2009, the company said that retail and wholesale have performed well.
Total sales for the global luxury company were £380m, up 12% underlying (15% reported), with Retail sales up 16% underlying (17% reported). Growth in all regions led again by Europe and Asia Pacific.
The company opened five mainline stores, including flagship in Toronto and standalone Burberry London and Burberry Brit stores in New York. Six franchise stores opened in Emerging Markets.
Angela Ahrendts, Chief Executive Officer, commented, "With sales up 12% underlying in the third quarter, Burberry has delivered a strong performance in both retail and wholesale, as customers around the world responded positively to our collections, marketing and service initiatives. As a result, we currently expect adjusted profit before tax for this financial year to be towards the top end of market expectations.
While continuing to plan cautiously for 2010/11, we are confident that our strategies by product, region and channel - underpinned by operational efficiencies - will drive profitable growth."
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