Burberry results in-line with expectations

United Kingdom
Published:  20 January, 2017

Third quarter financial results suggest that Burberry’s operational and strategic progress are in line with plans announced by the British fashion house in May 2016. 

Burberry posted total retail revenue of £735 million (US$903.38 million) for the three months ended December 31, 2016, up 4% compared to the corresponding period the prior year. Comparable sales were up 3%.

"With a record number of views of our festive film and strong demand for new products in our collections, this third quarter improvement reflects early progress from our plans to drive Burberry's performance for the long term”, said Christopher Bailey, CEO, Burberry.  

An increase in sales was reported in the Asia Pacific region, with notable acceleration in Mainland China and improvement in Hong Kong. According to Burberry, the EMEA region recorded double-digit percentage growth, while the UK is said to have performed exceptionally. An improvement was registered in France despite lower consumer confidence however, a low single-digit percentage decline was recorded for the Americas.

The brand expects fiscal 2017 adjusted profit before tax to be in line with current market expectations. No changes are forecast for retail, wholesale and licensing revenue.

comments powered by Disqus