Burberry sales continue to boom

Burberry has continued to see booming sales despite the credit crunch, revealing a 26 per cent hike in first quarter revenues.

The firm saw sales of £211 million in the three months to June 30 with growth of 38 per cent across Europe excluding Spain, 27 per cent in the Americas and 19 per cent in Asia Pacific.

Spain, which has under-performed for a number of years, lagged well behind group performance with a 3 per cent increase.

Chief executive Angela Ahrendts said: "I am pleased with Burberry's start to the year in an increasingly challenging external environment."

Retail sales for Burberry - which was founded in 1856 and is famous for its check design - rose 19 per cent during the period to £115 million, including a like-for-like rise of 4.5 per cent.

Wholesale revenues soared 45 per cent to £80 million, boosted by earlier shipments of autumn and winter ranges.

The Americas remained the best performing region in the period, with particular strength in cities such as New York, San Francisco and Chicago.

Popular product lines included lightweight outerwear, shoes and other accessories including belts.

Sales growth in emerging and oil-rich markets such as the Middle East and Russia was "very strong", the group said, with shipments to booming China doubling in the first quarter.

In the UK - which comprises 7 per cent of the group's total turnover - sales were "nicely positive", the firm said.

Eight of the group's 97 store portfolio are in the UK - three in London, one in Manchester and four at Heathrow. There are also a number of concessions at stores such as Selfridges and Harvey Nichols.

New Burberry stores were opened during the quarter in Cannes and Budapest, as well as 14 concessions in Italy, Korea and Spain.

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