Burberry first-quarter revenue rose 34% to 367 million pounds 

July 14 [Thu], 2011, 12:16
Burberry first-quarter revenue rose 34% to 367 million pounds
British luxury fashion brand Burberry Group said Wednesday that the group to the quarter ending June 30, revenue rose 34 percent. Including retail and wholesale, and in all regions and product lines, burberry sale have received more than 10 percent growth.

This quarter, sales grew to £ 367 million, of which retail sales increased by 49%, wholesale grew by 11%. Retail sector revenue was 2.45 billion pounds. By comparable store sales basis, excluding the Chinese out, this growth of 15%. The company said stores in China, earnings growth still remains at 30%.

The wholesale value of £ 95 million revenue, an increase of 19%, so if you exclude China. Burberry obtained in the first half before the expected wholesale more than 15% on the amount of growth because the company has so far received orders for more than expected.

Last September, the London-based company acquired its business in China project. In addition to the acquisition transaction, the company's retail revenue growth was 29%, while 19% of wholesale turnover growth.

The company's franchise type of business revenue increased 6 percent to 2.7 billion pounds.

In the quarter, Burberry opened five new stores, including Hong Kong, Sydney and Chennai, India, and closed three stores. Company said its investment plans are on track, plans to focus on the flagship store opening and refurbishment of high-yield areas.

Next, the group full-year retail / wholesale operations of the operating margin set a cautious target. Weigh the benefits and costs, in the first half of the gross margin expectations will be reduced.

CEO Anela Ahrendts said: "Despite the enormous global challenges and growing strong opponent, we are confident in the existing strategy, and will continue to invest to drive favorable growth."

Burberry Outlet plans to release on November 5, including the second quarter to the September semi-annual report.

London stock market trading ended on Tuesday, Burberry's stock price of 1.442 pence, instead of 52 weeks to the highest per share price of 149.4 pence far off.

Source from: http://www.hotbrandmall.com/Burberry-first-quarter-revenue-rose-34-percent-to-367-million-pounds

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