British luxury brand Burberry reported a 6% rise in like-for-like retail sales at the back end of last year as outerwear and men’s tailoring outperformed expectations.
In the three months to December 31 total revenue across the company rose 9% to £613m with retail revenues soaring 13% to £464m. Like-for-like store sales grew 6% with outerwear contributing significantly to this growth.
During the period sales of scarves, men’s tailoring and accessories were strong, and the penetration of the brand’s higher-end lines, Prorsum and London, also increased.
Wholesale revenues however decreased by 5% to £120m as growth in the US, Asia travel retail and emerging markets was more than offset by a weaker performance in Europe.
Chief executive Angela Ahrendts said: “Burberry delivered 13% underlying retail growth in the third quarter, benefiting from a particularly strong week in the run up to Christmas.”
She added: “In an otherwise difficult quarter, core outerwear, mens and digital all outperformed. We expect the external global environment to remain challenging, but see continued opportunities to drive productivity in our existing business, while investing for growth in under-penetrated regions, product categories, channels and mediums.”