Burberry beats expectations with men's accessories u - leatherbiz: Lea Leatherbiz

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Burberry beats expectations with men's accessories up 40%

07/11/2012
Luxury goods group Burberry has beaten expectations with a 6% rise in profits for the first half of the year, despite issuing a profit warning in September that caused analysts to suggest China’s luxury bubble might have burst.

The UK-based group made a profit before tax £173 million and total revenue was up 8% at £883 million.

Men’s accessories was among the strongest categories, growing 40% during the period and reaching 18% of total non-apparel sales, with the fastest growth in Asia-Pacific and on burberry.com.

Large leathergoods accounted for around half of non-apparel sales, driven by “innovation in core programmes and focused marketing and merchandising behind key shapes”, according to the company.

“In retail/wholesale, which accounts for over 90% of our business, Burberry delivered 7% revenue growth, 11% profit growth and a further improvement in operating margin, all in a challenging external environment,” said Angela Ahrendts, Burberry’s chief executive.



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