Burberry bemoans “challenging” Chinese market
15/10/2015
This figure represents underlying growth (excluding the effects of exchange rates) of 2% in Burberry’s retail business year on year, but the corresponding figures for the wholesale and licensing parts of the business were declines of 3% and 18% respectively.
Christopher Bailey, Burberry’s chief executive, said on announcing the results: “The external environment became more challenging during the half, affecting luxury consumer demand in some of our key markets [the company later specified China as a market that was particularly affected]. In response, we have intensified our focus on driving sales and productivity, while taking swift action on discretionary costs. We maintain our focus on - and confidence in - the long-term growth opportunities for our business across channels, regions and product categories.”
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