Burberry Group plc, the global luxury company, today reports on trading for the six months to 31 March 2012. The financial information contained herein is unaudited.
Highlights
- Total revenue of £1,027m, up 18% underlying
- Retail revenue of £743m, up 23% underlying
- Retail now 72% of group revenue
- 12% growth in comparable store sales
- Led by flagship markets in UK, France and Greater China
- Balanced growth across all four product divisions
- Wholesale revenue of £230m, up 7% underlying, as guided
- Double-digit % growth in US, Emerging Markets and Asia Travel Retail, excluding impact of planned rationalisation of distribution
- Core outerwear and large leather goods sales underpinned by replenishment
- Licensing revenue of £54m, up 5% underlying, as guided
- Further operational progress
- Eleven store openings including first flagships in Paris and Taipei
- Momentum in social media; Facebook fans doubled to over 12m in the year
- Increased focus drove men's accessories and tailoring
- Looking forward, Burberry is planning
- 12-14% increase in average retail selling space for FY 2012/13; weighted towards larger stores
- Mid single-digit % growth in wholesale revenue for H1 2012/13; double-digit % growth excluding planned rationalisation
- Broadly unchanged licensing revenue for FY 2012/13; double-digit % growth from global products offset by Japanese non-apparel
Angela Ahrendts, Chief Executive Officer, commented:
"With underlying revenue up 18% in the second half, we are pleased with Burberry's finish to the year across all channels, regions and product divisions. Looking ahead, while we remain vigilant about the external environment, our global teams continue to focus on optimising our core brand, digital and cultural initiatives, while investing to drive sustainable, profitable growth."
