Burberry posts third quarter sales rise
Luxury fashion brand Burberry increased its retail revenue by 15% in its third quarter despite disruption caused by the pro-democracy protests in Hong Kong.
In the three months to 31 December, retail revenue reached £604 million while like-for-like sales increased by 8%.
By region, there was double-digit percentage comparable sales growth in the Americas and EMEIA. However, the Asia Pacific region delivered low single-digit percentage growth, primarily due to the disruption in Hong Kong.
During the period, Burberry opened five mainline stores and closed four. Openings included relocations in Beverly Hills and Tokyo, as well as the brand’s second dedicated beauty store globally, in South Korea. Two additional concessions were opened in Japan, ahead of the licence expiry later in 2015.
Christopher Bailey, Burberry chief creative and executive officer, said: "We're pleased to report a strong performance over this important period, during which our teams worked tirelessly to bring the very best of the brand to the customer in our stores and online.
"Looking ahead, we will bring equal focus to maximising the opportunities of the final quarter - including Lunar New Year - while being mindful of what remains a challenging external environment."
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