BURBERRY BARRELS AHEAD: Bucking the downward trend in luxury goods sales, Burberry posted a 33 percent increase in total revenues — 18 percent on a comparable basis — for the third quarter ended December 2002. The company said in a statement Monday that retail sales, which represented 63 percent of total revenue in the quarter, increased by 64 percent, and by 32 percent on a comparable basis. The company added that growth came primarily from the U.K. and the U.S., where Burberry opened flagships during the period. Wholesale volume was flat on a comparable basis, partially reflecting the acceleration of deliveries into the first half compared with the prior year. The company said it anticipates high-single-digit wholesale sales growth for the spring season. Licensing revenue in the quarter increased by 9 percent, and 7 percent on an underlying basis.
This story first appeared in the January 14, 2003 issue of WWD. Subscribe Today.
FILA FINE: Fila Holding SpA said Monday it is back in compliance with New York Stock Exchange listing standards. NYSE criteria require the average closing price of a listed security to be at least $1 over a 30-day trading period and a listed company to have a global market capitalization and total shareholders’ equity in excess of $50 million. Last year, the Biella, Italy-based active and footwear maker was notified by the NYSE that it was not in compliance, and that continued noncompliance could lead to delisting. The NYSE will continue to monitor Fila for continued compliance with listing criteria until at least April. The money-losing Fila has been on the selling block; it is owned by Italy’s Holding di Partecipazioni Industriali.
ONLINE PURCHASING PICKS UP: Clothing was purchased online by 35 percent of cybershoppers during holiday 2002, giving the category the largest increase in share of holiday purchasers on the Web, or an advance of 6 percentage points versus a year ago, consultant Retail Forward said Thursday. The 35 percent share of shoppers who bought apparel online made it the season’s second most popular e-commerce sector, after books, which captured a 37 percent slice and added four basis points from holiday 2001. DVDs and videos also saw their combined share of online purchasers climb by 6 points, to 23 percent, making them the sixth most frequent holiday e-purchase. Eighty-eight percent of Internet users shopped online during holiday 2002, with 75 percent of them buying something. A year earlier, 81 percent of surfers shopped online, with 69 percent transacting purchases.