Burberry’s profit remains flat

Burberry has had a “very encouraging” response to their collection by new designer Riccardo Tisci.

The fashion retailer said revenues fell by 1% to £2.7bn, while underlying pre-tax profits were flat at £443m in the year to 30 March.

Marco Gobbetti, chief executive of Burberry said, “We made excellent progress in the first year of our plan to transform Burberry, while at the same time delivering financial performance in line with expectations.

“Riccardo Tisci’s first collections arrived in stores at the end of February and the initial reaction from customers is very encouraging.”