Burberry reports surge in revenue | Retail News UK
Home » News » Retailers News » Burberry Reports Surge In Revenue

Burberry reports surge in revenue


READ MORE ON BurberryFashion RetailerFinancial ResultRetailer News UK


Image Courtesy: newscred.com

British luxury goods company Burberry has unveiled its results for the first six months of the year ended September 30, 2016. In the period under review, the fashion retailer noted a 5 per cent increase in its revenue to £ 1.16 billion from £ 1.11 billion in the corresponding period last year. However, the brand’s underlying revenue dropped by 4 per cent.

In the first six months of the year, Burberry’s retail revenue of £ 859 million zoomed 11 per cent on a reported basis and 2 per cent on an underlying basis. The company’s comparable sales progress remained unchanged year-on-year, with a 2 per cent increase in the second quarter. The retailer’s wholesale revenue declined 6 per cent on a reported basis and 14 per cent on underlying basis to £ 287 million. Its licensing revenue also dropped 51 per cent on a reported basis.

Also Read Levi Strauss posts 4% surge in Q3 net revenues

Commenting on the results, Christopher Bailey, Chief Creative and Chief Executive Officer of the company said, “In a challenging external environment, we continue to focus on product innovation, retail productivity and digital leadership, against a backdrop of sustained action and investment to deliver long-term outperformance of our brand and business. We remain on track to deliver our financial goals.”


Have some news? Let us know on news@apparelresources.com

Comments are closed.

Recommended by Apparel Resources

Fashion brand Uniqlo Defers India Entry

Bad news has come for those who have been eagerly waiting for Japan-based fast fashion brand Uniqlo’s India entry. The fashion retailer has...

Spanish fashion brands Springfield, Women’ secret debut in India

Bengaluru has become the first Indian city to house the stores of Spanish fashion brands, Springfield and Women’secret. The former is a youth-oriented...

Border Adjustment Tax: NRF shows concern for small retailers

National Retail Federation (NRF), the world’s largest retail trade association, is concerned over the future of Border Adjustment Tax (BAT) and its impact...

Kids fashion retailer Gymboree to shut 350 stores

Plunging sales and rising competition from online retailers have resulted in yet another fashion chain Gymboree Corporation to close its 350 stores, mainly...

Struggling Fashion Chain Store Twenty One to Shut 122 More Stores

UK-based fashion chain Store Twenty One, owned by Indian textiles company Alok Group, has gone into liquidation. It will shutter its remaining 122...

Walmart to invest Rs 900 cr to open 15 stores in Maharashtra

American retail giant, Walmart, has signed a Memorandum of Understanding (MoU) with the Maharashtra State Government for retail expansion in the state. Under...

Plus-size menswear fails to stir the market; womenswear succeeds

A recent report by a retail analytics firm, Edited, highlights the poor growth of plus-size menswear over the last 5 years. The report...

Another 43 Stores to be shut by Sears, Kmart

Unable to with stand the struggling retail market and the emergence of online retailers like Amazon, American department store chain, Sears Holdings Corporation,...

Now True Religion boards bankruptcy protection bandwagon

America’s iconic denim label, True Religion Apparel Inc., has become the latest fashion retailer to have filed for bankruptcy protection. The fashion brand...

Amazon injects US $ 252 million in its Indian arm

Amazon, the US-based ecommerce giant, has made a staggering investment of US $ 252 (approx.) million in its local arm – Amazon Seller...