Burberry predicts profitable year

November 4, 2019 0 By JohnValbyNation

Burberry says it expects full year pre-tax profits to be slightly ahead of current market consensus after a strong second half.

Total sales in the six months to the end of March rose 6% on an underlying basis (up 7% reported).

Retail sales rose 15% on underlying basis (up 14% reported) with a 10% comparable store sales growth driven by strong full price sell-through of spring/summer ranges.

Chief executive Angela Ahrendts said: “Looking forward to 2010-11, while the pace and level of the global economic recovery remain unclear, we remain confident that our strategies will continue to build momentum in the business.

“To drive growth, we will increase investment in new regions, initiatives and digital commerce, while taking further action to enhance the brand.”

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