Home Business News Burberry posts better-than-expected profits and sales

Burberry posts better-than-expected profits and sales

by Purvai Dua
8th Nov 18 11:00 am

British fashion brand Burberry saw like-for-like retail sales jump by 3 per cent in the six months to 29 September, and its pre-tax profits also grew to £174.1m from £128.3m last year.

The better-than-expected results were mainly because Chinese luxury shoppers snapped up its goods in duty-free outlets. Another reason is the great success of Riccardo Tisci’s “Kingdom” collection in September, which was “the second-most viewed show this season on Vogue.com and continues to be endorsed by some of the world’s most followed influencers”.

Chief executive Marco Gobbetti said: “We are energised by the early results as we begin to transform and reposition Burberry.

“The initial response from influencers, press, buyers and customers to our new creative vision and Riccardo Tisci’s debut collection Kingdom has been exceptional. Mindful that we are only in the first phase of our multi-year plan, we continue to manage dynamically through the transition.”

 

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