Categories: Business

Burberry announces strong rise in sales for Q2 2014

Luxury fashion brand Burberry has announced a strong rise in sales but warned that profits could be hit by unfavorable exchange rates.

Retail revenues for Q2 2014 were $592 million, up almost 10% from a year earlier, while like-for-like sales increased by 12%.

Sales were particularly strong in China and Hong Kong.

Burberry has announced a strong rise in sales but warned that profits could be hit by unfavorable exchange rates (photo Wikipedia)

But it warned that if exchange rates remained at current levels, retail and wholesale profit could be cut by $88 million.

Burberry added that, given movements in the sterling-yen exchange rate, it expected licensing revenue to be down by about $16 million.

“The first quarter performance reflects our focus on striving to give customers the best possible experience of the Burberry brand through ongoing investment in retail, digital and service, both on and offline,” said chief executive Christopher Bailey.

“With great brand momentum and a focused vision, we remain confident of delivering sustainable, profitable growth into the future.”

Burberry said it had seen double-digit sales growth in American and Asia Pacific markets. Europe, the Middle East and Africa saw “low single-digit” sales growth.

The retailer also highlighted the strong performance of its online business.

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

Spain: At Least 158 Killed In The Country’s Worst Flooding Disaster

At least 158 people have died in Spain's worst flooding disaster in generations. On October…

2 days ago

Russia Fines Google $20,000,000,000,000,000,000,000,000,000,000,000, Surpassing Global GDP

Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…

2 days ago

Financing Your Home Remodel: 7 Tips for Success

Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…

2 weeks ago

Donald Trump Serves Up McDonald’s Fries While Kamala Harris Celebrates 60th Birthday with Church Choir

The US presidential candidates continued to campaign across key swing states on October 20. Footage…

2 weeks ago

America PAC: Elon Musk Promises to Award $1M Each Day to Swing States Voters

Elon Musk has said he will give away $1 million a day to a registered…

2 weeks ago

Canada Expels 6 Indian Diplomats Amid Khalistan Row

India and Canada have decided to expel their top envoys along with other diplomats as…

3 weeks ago