Burberry sales jump in third quarter

Luxury brand Burberry this morning posted a nine per cent jump in underlying revenue over the third quarter, thanks to a strong week of trading before Christmas.

The retailer racked up total sales of £613m over the three months to 31 December.

Retail revenue from the group, which last year issued a shock profit warning, hit £464m over the quarter, up an underlying 13 per cent. A strong performance in outerwear contributed to about half of the growth, Burberry said.

Wholesale revenue at £120m was down an underlying 5 per cent and Burberry is now forecasting underlying wholesale revenue to fall by "a low to mid single-digit percentage" year-on-year in the second half, reflecting lower sales to small specialty accounts in Europe.

“In an otherwise difficult quarter, core outerwear, mens and digital all outperformed,” said chief executive Angela Ahrendts today.

“We expect the external global environment to remain challenging, but see continued opportunities to drive productivity in our existing business.”