Burberry reports 8 percent turnover increase for the first half of 2012
Burberry closed the first half of 2012 with a positive turnover of 1.097 billion euros, up 8% compared to the same period in 2011, of which 717 million euro were generated from the retail channel (+10%). Wholesale revenues rose 5% compared to the same period last year, reaching a total of 313 million euros. For the second half of 2012, Burberry expects wholesale revenue to be broadly unchanged. Thirteen mainline stores were opened in the first 6 months of 2012, in Milan, Rome, Hong Kong and Regent Street, London.
For the second half of fiscal year 2012/13, average retail selling space is on plan to increase by about 14%. Burberry openings in flagship markets will include Chicago, Shanghai and a standalone mens wear store in Knightsbridge, London, as well as further stores in Brazil, Mexico and the Middle East.
“Against record prior year comparatives, Burberry delivered 8% total revenue growth and 10% retail growth in the first half, albeit slowing in the second quarter. In a more challenging external environment, footfall declined but brand momentum remained strong, particularly with our higher spending luxury consumer.” said Angela Ahredts, CEO of Burberry.