Home World News Burberry said growth was increasingly coming from online shopping

Burberry said growth was increasingly coming from online shopping

Burberry Said Growth Was Increasingly Coming From Online Shopping

Burberry, the UK luxury fashion brand, has reported a strong rise in sales over the Christmas period.

Revenue rose 14% to ?528m ($866m; 635m euros) for the third quarter to 31 December 2013, the company said.

A 12% rise in comparable sales was “in line with our expectations”, said chief executive Angela Ahrendts, who is leaving to join Apple this year.

Burberry is famous for its red, black and camel checked patterns.

Ms Ahrendts warned that exchange rates could prove “a significant headwind in the second half and beyond”.

Shoppers were increasingly buying online and making use of its “click-and-collect” service, the company said.

As a result Burberry’s digital channel “outperformed”.

‘Double-digit growth’ Continue reading the main story

Outerwear, such as its trademark raincoats, and large leather goods contributed about half of the growth, it said, while men’s accessories and tailoring “grew strongly”.

Burberry opened five new stores in the period, including two in China and the first Burberry Beauty Box in Covent Garden, London.

The Asia-Pacific region delivered “double-digit comparable sales growth”, the company said, while other regions’ growth was in single figures.

Looking forward, the company said its outlook remained unchanged from the interim results in November 2013.

Burberry’s shares were up more than 6% in early morning trading as the market reacted positively to the trading statement.

Its shares are up nearly 13% over the past year.

Richard Hunter, head of equities at stockbrokers Hargreaves Lansdown said: “Burberry has trounced expectations and the share price is racing ahead as a result.

“This update could provide something of a springboard for Burberry,” he added.

Source? BBC

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