Burberry sales surpass forecasts in Q1
Source: Agencies |
July 14, 2011, Thursday
|
Print Edition
Print Edition
BURBERRY posted first-quarter sales slightly above forecasts as it raised expectations for its wholesale operations, bolstered by the Americas, emerging markets and travel retail.
The British maker of raincoats and leather goods, identifiable by their camel, red and black check pattern, said yesterday that revenue rose 34 percent on a comparable basis to 367 million pounds (US$588 million), slightly above expectations of 340 million pounds.
Thanks to higher than planned in-season orders received to date, Burberry said it now expected wholesale revenue excluding China to increase by a high teens percentage at constant exchange rates in the first half, up from its previous forecast of mid-teens growth.
Burberry added it expected a percentage gain for licensing revenue in the year to March in the mid-single digits.
The 155-year-old group has seen its shares rise sharply over the past 2-1/2 years on the back of its successful turnaround and recurring speculation it could be acquired.
Burberry shares hit a record high last week together with other luxury stocks such as Hermes and LVMH driven by investors' anticipation of strong first-half results on the back of buoyant demand from major markets such as Asia.
Investors have piled money into luxury stocks, attracted by fast-growing demand from emerging markets.
The British maker of raincoats and leather goods, identifiable by their camel, red and black check pattern, said yesterday that revenue rose 34 percent on a comparable basis to 367 million pounds (US$588 million), slightly above expectations of 340 million pounds.
Thanks to higher than planned in-season orders received to date, Burberry said it now expected wholesale revenue excluding China to increase by a high teens percentage at constant exchange rates in the first half, up from its previous forecast of mid-teens growth.
Burberry added it expected a percentage gain for licensing revenue in the year to March in the mid-single digits.
The 155-year-old group has seen its shares rise sharply over the past 2-1/2 years on the back of its successful turnaround and recurring speculation it could be acquired.
Burberry shares hit a record high last week together with other luxury stocks such as Hermes and LVMH driven by investors' anticipation of strong first-half results on the back of buoyant demand from major markets such as Asia.
Investors have piled money into luxury stocks, attracted by fast-growing demand from emerging markets.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
