Burberry sales increase 13% on online growth
Burberry reports retail revenue increased 13 percent at constant exchange rates to 928 million pounds ($1.6 billion) in the six months ended March 31, with online expansion having boosted growth.
Burberry said today that it anticipates a “material adverse impact on reported profit” at current exchange rates in fiscal 2015. Burberry had warned in January that exchange rates would weigh on results in the fiscal second half and beyond.
Burberry forecast new space in fiscal 2015 will contribute “low to mid single-digit percentage growth to total retail revenue,” and the company expects to open about 20 to 25 stores, and shut 15 to 20, as it focuses on its main markets and travel retail in regions including China and the Middle East.