Fashion brand Burberry's total net revenue jumps 10%
12 Oct '06
3 min read
Fashion Group Burberry Group plc reports on trading for the six months ended 30 September 2006.
Financial Highlights - Total revenue increased 10 percent on an underlying* basis - Retail sales rose 23 percent underlying driven by new and existing stores - Wholesale revenues increased 1 percent underlying - Licensing revenue increased 5 percent underlying
Outlook for second half
- Increased pace of retail expansion to include the opening of five stores and five concessions, resulting in an expected 14 percent average retail selling space gain in the second half and 13 percent for the financial year - Anticipate a mid single digit percentage increase in wholesale sales - Continue to expect underlying licensing revenue broadly flat relative to the previous year period
Retail Retail sales accounted for approximately 43 percent of total revenue in the period.
Retail sales in the first half increased 23 percent underlying, 36 percent reported, driven by contributions from existing and new stores. The Taiwan acquisition and Spain retail conversion contributed approximately 13 percentage points to the reported gain.
Comparable store sales increased 11 percent and average selling space increased approximately 12 percent year over year. During the half, the Group opened a total of six stores, a replacement store, a net five concessions and two outlets.
marketing@alchempro.com
