Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Burberry’s profits fall despite strong UK retail sales

Burberry’s first-half adjusted profit before tax fell 24% to £146m on an underlying basis for the six months ended 30 September, despite strong UK retail growth.

Sales fell 4% on an underlying basis to £1.2bn as the strong retail performance was offset by declines in wholesale and licensing.

Reported profit before tax was down 34% year on year to £102m.

Burberry’s performance improved in the second quarter as it benefited from an uplift in travelling luxury consumers. In the UK, comparable sales up over 30% due to the depreciation of sterling.

Burberry said it has made good early progress since it outlined plans to evolve how it operates in May. It has injected its ranges with more innovation and newness, increased the investemnt in training and simplified its structure. 

Partly as a result of the restructure, it is on track to deliver planned cost savings of around £20m for the full year.

“We remain on track to deliver our financial goals,” said Christopher Bailey, chief creative and chief executive. 

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.