Burberry reports increased sales, appoints new CEO

12/10/2005

British luxury brand Burberry plc has reported increased sales and revenue for the first six months ended September 30, 2005.

Total revenues increased by 3% compared with the same period last year and retail sales rose 9% to reach £124 million. However the company reported a 1% fall in sales in its wholesale business to £191 million. Total sales across the group rose by 3% to £355 million.

Earlier the company had announced the appointment of a new CEO, Angela Ahrendts, effective July 1, 2006.  She will become an executive director of the group as of January 9, 2006. Rose Marie Bravo, the group’s current chief executive, will assume the newly-created role of vice chairman at that time.

Ms Ahrendts joins Burberry from Liz Claiborne Inc., a leading apparel company in the US, where she is currently executive vice president, responsible for womenswear and menswear brands with combined annual sales of approximately 40% of total company revenues.