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Burberry reveals revenue rise

British luxury brand Burberry delivered a 9% rise in revenue in its second half with outerwear and menswear the star performers.

In the six months to March 31 total sales rose to £1.1bn as retail revenue jumped 13% to £840m and like-for-like sales rose 7%.

Burberry said that “soft” footfall had been mitigated by improved conversion rates and higher average transaction values.

Burberry’s catwalk collection Prorsum and luxury line London sold well as outerwear and menswear outperformed, along with the brand’s digital arm. During the period 10 stores were opened including the Knightsbridge menswear store and a flagship in Chicago.

Sales in China and Hong Kong grew double digit, while America posted low single-digit growth and Europe was “broadly unchanged”.

Wholesale revenue however dropped 3% during the period to £220m as rationalisation across Europe continued. Wholesale across emerging markets, North America and the Asian travel retail arm were all up. Outerwear and menswear once again outperformed across the wholesale division.

Chief executive Angela Ahrendts said: “With three-quarters of our revenue now generated in retail, we are pleased with the 13% growth in this channel in the second half, driven by continued innovation in product, marketing and customer service, especially over Christmas and Chinese New Year.”

She added: “Looking forward, while we expect the external global environment to remain challenging, the team is intensely focused on optimising the significant opportunities that exist for the brand across geographies and product divisions, with particular emphasis on unlocking the potential of our digital platform and our newly-integrated fragrance and beauty business.”

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