BURBERRY’s exceptional results defy concern over slowing demand
Burberry, U.K.’s largest luxury-goods maker reported fiscal second-quarter sales that beat analysts’ estimates and dispelled concern over slowing demand with plans to add 15 percent to its average retail space.
Revenue in the three months ended Sept. 30 rose to US$722 million from US$ 601 million a year earlier, Burberry said it plans to open as many as 10 stores in the second half of the fiscal year, including outlets in China, Latin America and Paris. Concern that economic growth in China, the industry’s fastest-expanding market, may be stagnating has led to declines in European luxury-goods stocks since July. Burberry’s first-half sales in Asia-Pacific rose 52 percent.