Amid the challenging context in Hong Kong and the Americas, Burberry benefited from the weakening British pound in the wake of the Brexit referendum. H1 sales were up 5% at reported FX to reach £1,159m, while underlying sales were down 4%. The retail network outperformed with an 11% surge to £859m. Underlying retail revenue was up 2% and comparable sales were flat yoy. Wholesale slipped 6% to reach £287m. Licensing income was halved to £13m following the expiry of the
18 Oct 2016
Disappointing H1 organic growth hidden by favourable FX moves
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Disappointing H1 organic growth hidden by favourable FX moves
Burberry Group plc (BRBY:LON) | 1,221 -128.2 (-0.9%) | Mkt Cap: 4,378m
- Published:
18 Oct 2016 -
Author:
Rim BEN SALAH -
Pages:
3
Amid the challenging context in Hong Kong and the Americas, Burberry benefited from the weakening British pound in the wake of the Brexit referendum. H1 sales were up 5% at reported FX to reach £1,159m, while underlying sales were down 4%. The retail network outperformed with an 11% surge to £859m. Underlying retail revenue was up 2% and comparable sales were flat yoy. Wholesale slipped 6% to reach £287m. Licensing income was halved to £13m following the expiry of the