Burberry sees 30% increase in first-half sales
Luxury fashion retailer Burberry has reported a 30% rise in first-half sales as international demand for its clothing and handbags shows no sign of slowing.
Total sales rose to £830 million from £641 million in the same period last year. Like-for-like retail sales increased by 16% with core outerwear and large leather goods driving half of retail growth.
Sales at the Burberry's Chinese stores grew by 30% in the six month period. Flagship markets including New York and San Francisco, London and Paris, Hong Kong, Taipei and Dubai also performed strongly.
Burberry opened eight mainline stores in the first half, including two in India and two childrenswear stores in the Middle East and Hong Kong. The retailer strengthened its brand's presence in European department store concessions and opened its first concession in Canada. Average retail selling space increased by 14% in the first half, with acquired Chinese stores adding a further 11%.
Chief executive Angela Ahrendts said: "Our first half performance, with 30% revenue growth, clearly demonstrates the continuing global momentum of the Burberry brand, underpinned by consistent and balanced double-digit growth in retail and wholesale, all regions and all product categories."
However, she said the company would be fully prepared to "respond appropriately" should it see any significant change in luxury demand.
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