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financial

Burberry First-Half Profits Slip

Burberry Group profits declined 2.7 percent in the first half to $96.7 million, mainly due to costs from its Project Atlas information technology overhaul.

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In the first half, fragrance-related royalty growth slowed, reflecting strong comparatives resulting from the Burberry Brit for men launch in the previous year and the one-year anniversary of Burberry's royalty rate increase.

On an accessories note, Cartwright said the company was "hugely excited" by its new recruit, Laura Hall, who joined Burberry this month as senior vice president, accessories and shoes. She will focus on the product development, production and merchandising of the Burberry London accessories and shoe collections worldwide.

Hall replaces Pamela Harper, who now works with Cartwright on Project Atlas. She was formerly vice president, global merchandise manager-fashion, at DFS Group Ltd.

With regard to Blake's departure, Cartwright said his leaving would dovetail with the arrival of Angela Ahrendts, who will replace Bravo as ceo.

"We totally understand Brian's reasons for leaving, and the family issues he has to resolve," said Cartwright. Asked about his replacement, she said: "We're not going to rush into anything. Angela needs to settle in, and take her time to see what the company's needs are."

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