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Burberry sales rise 19% but uncertainty over economy continues

Burberry Group sales rose 19% to nearly £1.3bn in the six months to March 31, as retail revenues climbed 13% to £928m.

The luxury business reported that like-for-likes increased 12%, with digital outperforming in all regions as conversion rates increased. Men’s accessories, men’s tailoring and womenswear in the Prorsum line were highlighted as particularly strong categories.

Fashion was up by double-digits, with core outerwear and large leather goods accounting for nearly half of the growth.

During the second half, a total of 11 mainline stores opened, including a flagship in the Kerry Centre in Shanghai.

Wholesale revenues excluding beauty rose 11% to £240m, which was partly due to the rephasing of deliveries and reorders. Licensing revenue climbed 2% to £37m.

However, the company has still warned that full-year results could be affected by wider economic issues and currency fluctuations.

Outgoing chief executive Angela Ahrendts said: “While current exchange rates are a material headwind in what remains an uncertain macro environment, our continued global brand momentum provides an excellent foundation for the future.”

 Burberry will announce its preliminary results for the 12 months to March 31 on May 21.

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