Burberry to expand in Americas
Luxury clothing and leathergoods manufacturer Burberry says it plans to open a number of stores in Brazil and Mexico despite economic turmoil in the EU.
The company is hoping to open ten stores in Central and Latin America as part of a £200 million investment.
It also plans to move profitable stores to larger premises, including those in London, Hong Kong and Chicago. In total, its retail space is expected to increase by 14% in 2012.
CEO Angela Ahrendts, said: "While we remain vigilant about the external environment, we will continue to invest."
Burberry posted a 24% rise in revenues for the year ended March 31, totalling £1.9 billion ($2.9 billion). Underlying growth rates ranged from 15% in Europe and the Americas to 41% in Asia Pacific.
Pretax profit totalled £376 million compared with £298 million in 2010-11.
