Home Fashion Luxury fashion brand Burberry posts 3 per cent rise in retail sales

Luxury fashion brand Burberry posts 3 per cent rise in retail sales

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Luxury Fashion retailer has reported retail revenue of £478 million (US$613 million), up +3 per cent. Comparable sales increased 4 per cent in the quarter with strength in Mainland China driving improved, mid-single-digit percentage growth in Asia Pacific.

Luxury fashion brand Burberry posts 3 per cent rise in retail sales
Chinese consumer confidence had rebounded, resulting in stronger growth in mainland China and Hong Kong

In China, sales growth was in the “mid-teens”. Chinese consumer confidence had rebounded, resulting in stronger growth in mainland China and Hong Kong.

It is the first set of results to be reported under new chief executive .

stood down as chief executive earlier this month to become president and chief creative officer.

High single-digit percentage growth was recorded in EMEIA, led by strength in the UK, while the Americas delivered a low single-digit percentage decline. The financial information released by the British brand has not been audited.

The company wants to save at least £100m by 2019 and said it is on track to deliver £50m in savings in 2018.

The rise in sales came after Burberry reported a fall in annual profits for the 2016-17 year.