Friday, 20 July 2018

Burberry First Half Revenues Rise By 14%

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Burberry's Revenues Rise Despite "Difficult" Environment.

A strong performance across all regions and continued digital growth, helped revenues climb 14% at UK-based luxury and fashion goods marketer - Burberry Group in first fiscal half year ending September 30, 2014.

Burberry said its sales grew by 14% year-on-year to £1.1 billion in the first half of 2014, of which its retail segment achieved a growth of 15% in reaching revenue of £748 million and wholesale turnover amounting to £317 million also up 13%.

Burberry posted a comparable sales growth of 10% in the period under review, while it also managed a double-digit comparable sales growth in Asia Pacific and Americas and mid single-digit growth in EMEIA.

The luxury goods retailer added that there was a balanced growth across major product divisions, with key drivers being rainwear, womens Prorsum, leather bags and mens tailoring, despite external environment becoming more difficult, partly offsetting reduced currency headwinds.

In the reporting period, Burberry opened nine mainline stores, including six in airports and has focused its marketing activities on core heritage products.

CEO Christopher Bailey said; "Looking ahead, we have never been better prepared for the all-important festive periods, intensely focused on delivering outstanding products and experiences, alongside continued investment to drive productivity and profitable growth."

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Did you know...

Burberry Group plc is a British luxury fashion house, distributing clothing, fashion accessories, fragrances, sunglasses, and cosmetics.

Its distinctive tartan pattern has become one of its most widely copied trademarks.

Burberry is most famous for its trench coat, which was designed by founder Thomas Burberry.

The company has branded stores and franchises around the world and also sells through concessions in third-party stores.

Queen Elizabeth II and the Prince of Wales have granted the company Royal Warrants, which have been maintained despite Burberry's closure of its factory in Wales.

The Chief Creative Officer is Christopher Bailey.

The company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.

In 2014, Burberry ranked 73rd in Interbrand's 'Best Global Brands' report, listing the world's most valuable brands.

Christopher Bailey MBE (born 1971) is the Chief Creative and chief executive officer of Burberry, and is responsible for creating and delivering the company's global vision and business strategy, including overseeing collections, brand imagery, product design, creative marketing, architecture, consumer technology and digital innovation.

He took up the role of Chief Creative and chief executive officer on 1 May 2014, following the departure of former CEO Angela Ahrendts.

He joined Burberry in May 2001 as design director and became Creative Director in 2004, and Chief Creative Officer in November 2009.

On 15 October 2013 Bailey was named as the next CEO of Burberry following Angela Ahrendts' departure to Apple in mid-2014.

Bailey took up the role of Chief Creative and chief executive officer on 1 May 2014.

Bailey is credited with transforming the fortunes of the company, turning it into the luxury industry's digital leader and overseeing a reinvigoration of the company's design.

Bailey masterminded the design of Burberry's largest store, 121 Regent Street in London, opened in 2012, a bricks-and-mortar incarnation of the brand's website.

He also oversaw the design and development of the 160,000-square-foot (15,000 m2) Burberry Global Headquarters at Horseferry House in London, opened in 2009.

In 2008, Bailey, alongside Angela Ahrendts, established the Burberry Foundation, dedicated to helping young people realise their dreams and potential through the power of their creativity.

The Burberry Foundation invests in select charities focused on supporting young people in the key cities in regions where the majority of Burberry employees live and work, and where they are able to participate in volunteer roles.

Bailey is also mentor to emerging British creative talent from UK institutions including the Royal College of Art and the University of Huddersfield.