.For the quarter ending December 31, total revenue rose by 21% on an
underlying basis to $882 million. Retail revenue rose 23% on an
underlying basis to $640 million, with comparable-store sales growth of
13% over the period .
.Burberry said core outerwear and large leather goods again drove
sales, while knitwear, men’s accessories, tailoring, fragrance and
watches also recorded strong growth .
.Underlying wholesale revenue increased 15% to $200 million, while licensing revenue rose 12% to $41 million over the quarter .
.“Burberry has delivered another strong performance, with a 21%
increase in revenue in this important third quarter,” said CEO Angela
Arendts .
.“Our investment in flagship markets and digital technology has
enabled our global teams to continue to drive customer engagement,
enhance retail disciplines and improve operational effectiveness,
further strengthening brand momentum.” .
.“Looking ahead, we remain focused on executing our proven core
strategies to achieve long-term sustainable growth, while staying
mindful of the challenging macro environment.” .
.Commenting on the results, Conlumino analyst Simon Chinn said that
despite European consumers being under pressure from the ongoing
travails of the eurozone crisis, sales in the region were “propped up by
high spending emerging market tourists, who appear to have an
insatiable demand for high end luxury goods, which are on many occasions
cheaper to purchase in Europe than in their home countries, and come
with the added prestige of being a foreign purchase .
.“Burberry is well sought after by the high-spending Chinese consumer.
As luxury retailers across the globe continue to see increased spend
from the increasingly travelling Chinese consumer, Burberry is well
positioned to capitalise on the so-called ‘Peking pound’ phenomenon from
its flagship base in London,” he said .
Date:1/18/2012
Source:www.mrketplace.com