Burberry claims “good early progress” on strategy as - leatherbiz: Lea Leatherbiz

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Burberry claims “good early progress” on strategy as revenue dips

09/11/2016
UK-based luxury group Burberry has reported a 4% decline in revenue in the first half of its current business year compared to the same period a year ago.

In the six-month period to the end of September 2016, Burberry brought in revenues of more than £1.1 billion, in keeping with the figure it suggested in a trading update in October. Reporting the full figures, it has now said before-tax profit on this figure was £146 million, which represents a year-on-year fall of 24%.

Nevertheless, chief executive, Christopher Bailey, said the company has made “good early progress” against new strategic priorities it set itself earlier this year. It highlighted five areas in which it aims to build future success: “customer cultivation”, e-commerce, brand reach, operational excellence and product focus. The last of the five includes a specific target of strengthening Burberry’s position in the luxury bags segment. Mr Bailey said Burberry has “significant opportunities ahead of us”.


Related stories:

Luxury industry veteran joins Burberry 28/06/2017
New Burberry design director to oversee leathergoods and shoes 21/03/2017
Burberry must wait until July for new CEO 17/01/2017
Burberry ‘rejects takeover approaches from Coach’ 06/12/2016

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