The British fashion and accessories company said in a statement that total revenues had increased by 15 percent, or 9 percent on a comparable basis, in the first half ended Sept. 30.
The company plans to announce full interim results on Nov. 19.
Retail sales grew by 32 percent overall, and by 17 percent on a comparable basis. That growth came from stores and concessions added from Burberry’s recent Asian acquisitions and the opening of new units in Barcelona, Heathrow Airport, Hong Kong and Coral Gables, Fla.
Wholesale sales increased 8 percent overall, and 4 percent on a comparablebasis. As reported, the company’s 2002-03 fall wholesale order book was flat against last year’s.
The company added that sales in the U.S. were strong during the period — a positive sign before the November opening of the refurbished New York flagship on 57th Street.
Burberry chief executive officer Rose Marie Bravo said the first-half boom was fueled by "growth in key product categories…and distribution channels."
Mike Metcalf, chief operating officer, said: "We are delivering on our growth objectives in what is clearly a very tough environment. We are pleased with the progress."
Indeed, other fashion and luxury goods companies like Gucci Group and LVMH Moët Hennessy Louis Vuitton are struggling with a downturn in sales growth due to a slowdown in tourism and weakening consumer confidence. (See related story above.)
In its first full report on Burberry, J.P. Morgan said it expects the company’s compounded annual growth rate to be 13 percent for sales and 16 percent for earnings over the next three years.
Burberry’s total licensing revenue increased by 14 percent —and 21 percent at constant exchange rates — driven by strong growth in Japanese royalties.
In the second half, Burberry said its spring 2003 wholesale order book will show "single-digit" growth over the previous year.
Later this year, the company will open a second London flagship in Knightsbridge and, during the second half of the fiscal year, it will open an additional six units, a mix of Burberry stores and outlets.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)