Burberry revenue jumps as new flagship store opens in Shanghai
Fashion heavyweight Burberry has reported a boost in revenue of 19 per cent to £1.3bn for the six months to 31 March.
Retail revenue also rose by 13 per cent to £928m, with comparable sales growth in line with the company's expectations. Burberry saw digital outperform in all regions, while eleven stores were opened including the flagship Kerry Centre in Shanghai.
Angela Ahrendts, chief executive officer, commented:
With the management transition well underway, Burberry begins a new year with Beauty firmly established as the fifth product division and investment in flagship markets, such as Shanghai, further increasing the brand's appeal to the core luxury customer at home and when travelling.
However, the luxury brand warned that currency exchange rates were a material headwind. If exchange rates remain at current levels, retail/wholesale profit for 2014 would be reduced by roughly £30m.