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LONDON - Second-half revenues at Burberry rose 19.3 percent, to 458 million pounds, or $886 million, from 384 million pounds, or $672.3 million, on the back of strong demand for spring runway looks, outerwear and handbags.
In the full 2006-2007 fiscal year, sales rose 14.4 percent, to 850 million pounds, or $1.61 billion, from 743 million pounds, or $1.33 billion. All figures have been converted from the pound at average exchange rates for the periods to which they refer.
The company issued a trading statement Tuesday, and will release full results for the fiscal year ended March 31 on May 24.
Chief executive Angela Ahrendts said performance in the second half was consistent with expectations, and attributed the latest results to the “significant investment” in retail expansion, operations and a focus on enhancing the “luxury component” of the brand.
Since she took over as company chief last July, Ahrendts has also revamped the brand’s selling schedule, increased the number of market weeks, created numerous brand extensions and bulked up the accessories and handbag offer.
Last month, Burberry added a line of performance sportswear for men and women, an at-home collection featuring cashmere robes and velvet slippers and an eveningwear component to its Icons collection of clothing and accessories.
Burberry said in a statement that in the first half of the current 2007-2008 fiscal year, retail selling space would increase 13 percent and the majority of store openings would be in the U.S. and Europe.
For complete coverage see tomorrow's issue of WWD.