Burberry sales continue to soar

Updated 08.58 Wed Jul 11 2007

Keywords: fashion, luxury, Burberry

Burberry has said underlying first-quarter sales soared 30 per cent to £167.5 million as demand for its luxury goods continues.

The fashion house announced store sales in the three months to June jumped by an underlying 25 per cent to £97 million while the wholesale business saw revenue up by an underlying 51 per cent to £55.3 million.

Its Beaton and Ashcombe bags were a big seller, while its Knight bag - which retails at a whopping £1,595 - hit the stores this month

Its Beaton and Ashcombe bags were a big seller, while its Knight bag - which retails at a whopping £1,595 - hit the stores this month.

Chief executive Angela Ahrendts said the year was off to a "good start" and said the group's performance was on track with its expectations for the full-year.

Same-store sales increased 9 per cent, although Burberry's average selling space grew by around 14 per cent over the quarter as the firm pursued expansion plans.

The luxury brands company, which began in 1856 and made its name equipping polar explorers, said it remains on schedule to increase average net retail selling space by approximately 13 per cent in the year.