Sales of Burberry's luxury handbags and clothing soared over the crucial festive trading period, boosted by impressive growth in Asia, the British fashion group revealed on Wednesday.
Retail revenues jumped 14 percent to £528 million ($866 million, 635 million euros) in the company's third quarter or the three months to December 31, compared with the same period a year earlier, Burberry said in a results statement.
Comparable sales from stores open at least a year increased by 12 percent -- with double-digit growth in the Asia Pacific region.
"In the all-important festive period, we are pleased with our 12-percent comparable sales growth, which was in line with our expectations," said departing chief executive Angela Ahrendts.
"This performance reflects continuing strong brand momentum and our team's intense focus on retail execution, supported by a planned increase in investment in marketing, customer service offline and online and our retail portfolio."
Ahrendts will leave Burberry in mid-2014 to take up her new position at US technology giant Apple, where she will have oversight of the strategic direction, expansion and operation of both retail and online stores.
Long-serving Ahrendts will hand over the reins to Burberry's Chief Creative Officer Christopher Bailey, who will retain his existing title alongside becoming the company's CEO.
Burberry is renowned for its raincoats and camel, black and red check patterned accessories, and generates almost three quarters of its revenue from retail stores, which it wholly owns and operates.
Sales of Burberry’s luxury handbags and clothing soared over the crucial festive trading period, boosted by impressive growth in Asia, the British fashion group revealed on Wednesday.
Retail revenues jumped 14 percent to £528 million ($866 million, 635 million euros) in the company’s third quarter or the three months to December 31, compared with the same period a year earlier, Burberry said in a results statement.
Comparable sales from stores open at least a year increased by 12 percent — with double-digit growth in the Asia Pacific region.
“In the all-important festive period, we are pleased with our 12-percent comparable sales growth, which was in line with our expectations,” said departing chief executive Angela Ahrendts.
“This performance reflects continuing strong brand momentum and our team’s intense focus on retail execution, supported by a planned increase in investment in marketing, customer service offline and online and our retail portfolio.”
Ahrendts will leave Burberry in mid-2014 to take up her new position at US technology giant Apple, where she will have oversight of the strategic direction, expansion and operation of both retail and online stores.
Long-serving Ahrendts will hand over the reins to Burberry’s Chief Creative Officer Christopher Bailey, who will retain his existing title alongside becoming the company’s CEO.
Burberry is renowned for its raincoats and camel, black and red check patterned accessories, and generates almost three quarters of its revenue from retail stores, which it wholly owns and operates.
