Hong Kong setback
Burberry’s third quarter turnover reached 604 million pounds (778 million euro), which is an 8 % like-for-like growth. Its EMEIA (Europe, Middle East, India and Africa) region and its American regions even had double-digit like-for-like turnover growth. Its Asia Pacific only managed a small growth, mainly because of a troublesome Hong Kong situation.
“15 percent underlying growth in retail sales reflects our commitment to every element of the customer experience, from product, to marketing, to service. Looking ahead, we will bring equal focus to maximising the opportunities of the final quarter,” CEO Christopher Bailey said in a statement.
Relaunch of rain clothing
The relaunch of its ‘heritage’ rain clothing and the well-known cashmere shawls were responsible for the majority of the growth. That is not abnormal as Burberry pays a lot of attention to these products’ design and marketing.
Burberry added 5 and closed 4 stores in the third quarter. It has also added 2 more stores in Japan, prior to the end of its local licensing deal in 2015.
