Burberry Q1 comparable store sales up 13 percent

For the first quarter, Burberry’s comparable store sales were up 13 percent. Retail sales in the first quarter increased by 21 percent at reported FX and 18 percent at constant FX.

There was double-digit comparable store sales growth in Asia Pacific and the Americas and high single-digit growth in Europe, Middle East, India and Africa. The plan is to modestly increase normalised retail/wholesale margin in the full year. First half adjusted PBT is still expected to be below prior year. During the first quarter, Burberry opened seven mainline stores and closed six. At June 30, 2013, Burberry globally had 207 retail stores, 212 concessions, 50 outlets and 64 franchise stores.

Burberry is based in London. Angela Ahrendts, Chief Executive Officer, commented: “We are pleased with our first quarter retail performance. Spring/Summer 2013 was a standout season driven by innovative marketing, cohesive monthly fashion groups and exceptional execution from all corporate and regional teams. Looking forward, the macro outlook remains uncertain and we will continue to focus our investment on profitable high growth opportunities by channel, region and product categories.”