BURBERRY yesterday reported a 24 per cent rise in first-quarter underlying revenue.
The luxury retailer took £282m, excluding a restructuring at its Spanish arm, in the three
months ended June, led by growth in Asia and the rest of Europe.
Sales at the group’s retail outlets rose an underlying 16 per cent, including a 10 per cent increase at shops open at least a year.
Burberry, best known for its camel, red and black check pattern, said it was keeping its guidance for a high-teens percentage sales increase in the first-half. The company weathered the recession better than many rivals thanks to a quick response which saw it cut costs, jobs, stocks and ranges.
Revenues were up 30 per cent in Asia-Pacific and 26 per cent in the Americas.
In May it announced plans to step up its expansion, with a focus on emerging markets, e-commerce and menswear. The group plans to open up 30 stores this financial year.
Chief executive Angela Ahrendts said in a statement: “Burberry has delivered a strong start to the year. The clear momentum in the business and our robust financial position together reinforce our confidence to increase investment for the future, while continuing to enhance the brand.”