China propels Burberry first quarter sales in Asia Pacific

Business | 16 Jul 2019 3:59 pm

Burberry said in a first quarter trading update today that Asia Pacific same store sales grew by a high single-digit percentage driven by mainland China, which grew in the mid teens.

EMEIA grew by a low-single digit percentage supported by tourist spend, which particularly benefited the UK.

Americas was flat, the US grew by a low-single digit percentage but Canada was negatively impacted by a later markdown period, Burberry said.

Men’s and women’s apparel grew by a double-digit percentage

Accessories sales declined with the benefit from new styles more than offset by the softer performance of lines from previous collections

Retail revenue for the 13 weeks ended 29 was £498 million compared with  £479 million in the year before period.

Burberry said this was the first quarter where the proportion of new product in stores was meaningful and the response from consumers was very promising.

New collections by Riccardo Tsci delivered strong double-digit percentage growth, with all regions ahead of prior year equivalent collections.

Consumers responded positively to the new aesthetic and house codes. The response to the new product was also strong in wholesale, where many of our luxury doors saw significantly higher sell through compared to previous collections, Burberry said.

 

 

 

 

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