Burberry posts higher sales

11/07/2007

UK-based luxury apparel and accessories brand Burberry Group plc has reported higher sales in its retail, wholesale and licensing segments for the first quarter ended 30 June 2007.

Retail sales, which accounted for approximately 58% of total reported revenue, increased 25% underlying and 18% reported, whilst comparable store sales increased 9%, against a strong prior-year comparison. The company opened four retail stores, in Belgium, Italy, Spain and the USA during the quarter and six new concessions in Italy, Spain, Singapore and the UK.

Wholesale sales, which accounted for 33% of revenue, improved 51% underlying, 47% reported. The gain partially reflected the company’s acceleration of shipments in advance of second quarter requirements, as well as the impact of a new market calendar and replenishment.

Total licensing revenue for the quarter increased 6% underlying.