Retail sales in the period increased 19 percent underlying, 35 percent reported, driven by contributions from newly opened stores and strong gains at existing stores. All three major product categories performed well in the period.
The Taiwan acquisition and Spain retail conversion contributed approximately 14 percentage points of the reported gain. During the quarter, Burberry opened a store in Atlantic City (New Jersey), a replacement store in Taipei and one outlet store. The Group also opened two accessory concessions in Spain.
On a year on year basis, underlying average net retail selling space increased approximately 10 percent in the quarter. Burberry remains on schedule to increase underlying net retail selling space by a minimum of 10 percent for the financial year.
Retail performance was generally strong across the regions. In the US, new and refurbished stores, supplemented by gains at existing locations, drove sales growth. With ongoing momentum at existing stores, the majority of Continental European markets achieved strong gains. In the UK, existing stores produced a double digit increase in the period. Asia demonstrated continued underlying strength primarily on the performance of existing stores.
marketing@alchempro.com
