Burberry sales up one percent for Q3

Published:  18 January, 2016

The luxury British brand posted a one percent retail revenue growth for the third-quarter, thanks to a minor recovery in China and improved demand in Europe.

According to Burberry, the mainland Chinese market had returned to growth but performance was weighed by Hong Kong and Macau. The fashion brand posted a one percent revenue growth to US$862 million, also helped by strong demand in Europe.

Year-on-year sales remained unchanged, an improvement from a 4% drop in the second quarter. The company is expected to report a full-year pre-tax profit of US$612 million, down from US$651 million in the previous year.

Hong Kong and China markets account for 30-40% of Burberry's global revenue. In October 2015, Burberry reported demand in the U.S. was uneven and that Asia Pacific sales had a mid-single digit decline, with Hong Kong decelerating further in the second quarter. Read more here.

Source: Reuters