Strong first quarter for Burberry | RetailDetail

Strong first quarter for Burberry

Strong first quarter for Burberry

British fashion brand Burberry's first quarter was very strong turnover-wise: its underlying retail turnover grew 8 %, while the like-for-like turnover grew 6 %.

Difficult Hong Kong market

The group's EMEA region (Africa, Europe, India and Middle East) experienced a double-digit, like-for-like growth in its first quarter, while the Americas experienced a "high, single-digit turnover growth". Particular in France, Italy and Spain, Burberry performed well.

 

According to the company, it did even better digitally, although it has not released any figures to back up that claim. Mobile sales did triple, thanks to investments in its mobile platform last year. It did have to deal with a minor drop in the Asia-Pacific region, mainly because of weaker Hong Kong results.

 

In total, Burberry managed a 407 million pound (580 million euro) turnover in the first quarter. "We are pleased with our performance in this first quarter, with retail sales up 8% underlying and 6% comparable sales growth", CEO Christopher Bailey said.

 

For its full fiscal year, Burberry expects a 20 million pound (28 million euro) profit increase compared to last year. That is twice what it had forecast back in May when it presented the preliminary results.

Questions or comments? Please feel free to contact the editors


Kraft Heinz does not meet expectations

16/02/2018

American Kraft Heinz failed to live up to analysts’ fourth quarter expectations, both when it comes to turnover and profit. It did manage a 900 % increase of its profit, but that did not convince any analyst.

Strong second half of 2017 thrusts Danone forward

16/02/2018

Danone published a 2.5 % like-for-like growth for its fiscal year 2017, mainly thanks to a strong second half of the year with a 4.2 % like-for-like turnover increase.

Aldi Nord and Süd will not merge, but collaborate

16/02/2018

Aldi Nord and Aldi Süd confirm they will look into the possibilities of working together closely in regards to its German purchase and marketing division. Both companies however deny a future merger.

Aldi turns gaze towards Italy

16/02/2018

Aldi is ready to conquer the Italian market next month: it will instantly open ten new stores in the Southern European country, alongside its first distribution center near Verona.

Coca-Cola Europe's turnover grows 25 % instantly

16/02/2018

Turnover for Coca-Cola European Partners, the soda manufacturer’s European division, soared above 11 billion euro in 2017. Its profit also spiked compared to the year before.

Increased turnover but (much) lower profit for PepsiCo

15/02/2018

Despite a “tepid” fourth quarter, PepsiCo still managed a slight turnover growth for its full fiscal year, thanks to snacks covering for sodas’ decreased sales. Net profit did plummet.

Back to top