Burberry reports 10 percent increase in Q4 revenue, amid strong demand in China
Burberry reports fourth quarter group sales rose to 583 million euros, better than expected in the third quarter results after a strong Christmas period. Burberry’s total revenue for the six months to March 31 reached 1,29 billion euros, ahead of a company-compiled average analyst forecast of 1.27 billion euros.
Last September, Burberry issued a warning of a spending slowdown, particularly in China – the driving force behind demand in recent years – but it has been more upbeat recently, highlighting a rebound in Chinese demand while posting third quarter sales in January. Retail sales, which make up 75 percent of group revenue, grew 14 percent to 436 million euros in its fourth quarter, Burberry said, as higher average spend helped offset lower numbers of shoppers.