LONDON - Profits at Burberry Group plc rose 3.6 percent to 110.2 million pounds, or $218 million, from 106.4 million pounds, or $210.6 million, with costs from the Project Atlas technology overhaul taking a bite out of bottom line growth.
Still, chief executive Angela Ahrendts called the 2006-07 fiscal year “outstanding,” with sales rising 14 percent to 850.3 million, or $1.68 billion, from 742.9 million, or $1.47 billion, and growth across all product categories, regions and sales channels.
“We face the current year with confidence,” Ahrendts said Thursday morning during a news conference at Burberry’s London headquarters.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"