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


Ellis Gourmet Burger wants partner for international expansion

15/12/2017

Belgian hamburger restaurant chain Ellis Gourmet Burger wants to expand into new countries, following Belgium, the Netherlands and France. That is why it seeks an investor to help finance that expansion, which may lead to a new majority shareholder.

Heineken will sell Mort Subite internationally

15/12/2017

Heineken will try to sell its Belgian beer brand Mort Subite all across the world. It has done similarly with Affligem and that proved to be a major success. Mort Subite will be on sale in every country that has Heineken.

Amazon brings its private labels to Europe

14/12/2017

After it introduced Amazon Prime to an increased number of European markets, Amazon is now bringing in its own FMCG private labels. Over the past few weeks, the online department store launched several private label products in Europe and it has plans for even more. 

Albert Heijn pulls plug on AH to go in Germany

14/12/2017

Albert Heijn has decided to shut down its German AH convenience stores. According to the supermarket company, the chain does not have enough room to grow in Germany despite having built up its presence in the past five years.

Carrefour continues to lose French market share

13/12/2017

Kantar Worldpanel’s new numbers underline the fact that Carrefour CEO Alexandre Bompard is facing a huge challenge. Out of every supermarket chain, his chain suffered the largest market share loss in France last month.

New Metro still struggles in the Netherlands and Belgium

13/12/2017

German food retail group Metro says it has created a solid foundation for new growth in its first year since it stepped away from its non-food activities. The Benelux are still worrisome however. 

Back to top