Q1 sales rise 19% at Burberry

20/07/2006

Luxury apparel, accessories and lifestyle products company Burberry has reported its financial results for the first quarter ended June 30. Sales increased by 19% in this period compared with the corresponding period a year ago, partly as a result of new stores that have recently been opened. Total revenue grew 12% on an underlying basis.

Retail performance was generally strong across the regions. In the US, new and refurbished stores, supplemented by gains at existing locations, drove sales growth. With ongoing momentum at existing stores, the majority of continental European markets achieved strong gains. In the UK, existing stores produced a double-digit increase in the period. Asia demonstrated continued underlying strength primarily on the performance of existing stores.

CEO Angela Ahrendts stated, “The strong first quarter results reflect the continued momentum of Burberry’s retail operations across our primary product categories and geographical regions. As a whole, performance in this period is consistent with expectations for the full financial year.”