In determining underlying performance, the financial effect of the affected business is excluded from both reporting periods. Total reported revenue increased 19%. Adverse exchange rate movements reduced the reported gain by approximately five percentage points.
Retail: Retail sales accounted for approximately 53% of total revenue in the second half. Second half retail sales increased 24% underlying, 25% reported. Comparable store sales increased 12%. Underlying average retail selling space increased approximately 14% in the half with the opening of six stores, a net eight concessions and one outlet.
The Spain retail conversion contributed approximately eight percentage points of the reported gain. Currency movements reduced the reported gain by approximately six percentage points.
Retail sales in the fourth quarter increased 24% underlying, 25% reported. Comparable store sales increased 11% (against a 6% comparison) and underlying average selling space increased 13% in the quarter. The Spain retail conversion contributed approximately eight percentage points of the reported gain.
Currency movements reduced the reported gain by approximately seven percentage points. During the quarter, Burberry opened four stores, including Manchester (UK), Prague (Czech Republic) and Seville (Spain), and a net three concessions.
marketing@alchempro.com
