Burberry records sales growth driven by EMEIA, Americas markets
British luxury fashion brand Burberry’s retail revenues jumped by 13% to £1.06 billion in the six months to March 31, while total sales increased 9% to £1.42 billion owing to robust growth in its EMEIA (Europe, Middle East, India and Africa) and Americas markets. It recorded double-digit growth in both its Americas and EMEIA markets that was low single-digit in Asia-Pacific with further slowdown in Hong Kong.
“Despite an uncertain external environment, am pleased with the company’s robust performance,” says Burberry chief creative and chief executive officer Christopher Bailey. “Customers responded strongly to product innovation, especially in our core British-made heritage trench coats and scarves, while we continued to invest in digital and retail initiatives, including flagship openings in Los Angeles and Japan.
Burberry opened seven stores during this period including its Rodeo Drive flagship store in Los Angeles and a flagship in Osaka, Japan. “We anticipate external challenges will continue in the current year, but remain confident in our long-term strategy to build the Burberry brand and business globally.”
The brand’s wholesale revenue sales dropped 3% to £331 million despite sales of its beauty range increasing by 8%, while licensing revenue increased by 3% to £33 million. According to Burberry, its net new space will help it achieve low single-digit percentage sales growth in its upcoming financial year.
