Burberry sales boosted by travelling luxury customer
Luxury brand Burberry has grown its first half retail sales by 2% on an underlying basis to Â£859 million.
Comparable sales improved by 2% in the second quarter after a first quarter fall of 3%. This meant that comparable sales were unchanged for the six months to 30 September.
Total revenue of £1.16 billion was up 5% at reported level but down 4% on an underlying basis.
Burberry said an improved performance from the travelling luxury customer in the second quarter was most significant in the UK, with comparable sales up over 30%, given sterling's depreciation.
Commenting on the results, Christopher Bailey, Burbery chief creative and chief executive officer, said: "In a challenging external environment, we continue to focus on product innovation, retail productivity and digital leadership, against a backdrop of sustained action and investment to deliver long-term outperformance of our brand and business.
“The progress we are making to improve our ways of working, the agility of our teams to react to changes in consumer behaviour and the strength of our brand give us confidence for the future. We remain on track to deliver our financial goals."
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