Cold comfort for Burberry
THE dismal summer weather has boosted early demand for the autumn and winter ranges at fashion group Burberry.
Its trademark trenchcoat and “funky wellies” were among the big sellers as it reported a 26 per cent rise in three-month sales to £211million.
The fastest growth was at the group’s wholesale business where there was an increase in early shipments of new seasonal ranges.
Other popular lines included lightweight coats, shoes and accessories, said chief financial officer Stacey Cartwright.
Wholesale revenues were up 43per cent in the quarter to the end of June, while revenues from Burberry’s shops were 14 per cent ahead. Like-for-like sales, which exclude new stores, were up 4.5per cent.
Burberry said growth in the US, France, Germany and South Korea was offset by weakness in Spain. During the period it opened outlets in Cannes, Budapest and Baku, Azerbaijan.
Figures for the UK were “nicely positive”, added Cartwright.
The shares rose 2dp to 399dp.