Burberry sales storm ahead
Third quarter retail sales up 32 per cent
January 13 2003
Burberry Group has reported strong trading in third quarter to December 2002, with underlying retail sales up 32 per cent, driven by existing stores and new openings.
Boosted by the contribution from stores and concessions added as part of Burberrys acqusiition of its Asian distributor, total retail sales increased by 64 per cent. Seven stores were opened, including flagship stores in New York and Knightsbridge, London.
Burberry chief executive Rose Marie Bravo said: “The Company’s strong performance in the third quarter reflects the strength of the Burberry brand and continued execution of our key growth initiatives by product, channel and region. Particularly notable is the performance of our directly operated stores in a challenging trading environment.”
Total wholesale sales were steady, with Burberry expecting high single-digit wholesale sales growth for the Spring/Summer 2003 season, with sales concentrated in the fourth quarter.
