Burberry sales buck trend and soar by 34 per cent

    Burberry sales buck trend and soar by 34 per cent

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    shares rose by 6.5 per cent to £15.31 after the luxury goods retailer said that sales over the three months to June 30 rose by 34 per cent to £367m.

    Sales in the retailer’s shops increased by 49 per cent while sales through its wholesale division increased by 11 per cent.

    Stacey Cartwright, finance director, said that all of the global territories in which Burberry operates saw sales increase by strong double-digit amounts.

    “It seems a little unfair to call out different regional performances, given that they all grew by double-digit amounts,” she said.

    However Asia saw the strongest growth. Sales in the Asia Pacific region increased by 62 per cent. The company has performed well due to its increasing exposure to emerging markets such as China and the continuing popularity of its products lines, which are clothing and accessories.

    Despite the strong performance, Burberry said that it is mindful of “global macro challenges”.

    Source : The Telegraph