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Trading statements

Burberry retail revenues up

12 July 2017 07:27

Burberry's retail revenue rose to £478m in the three months to the end of June - up 3% on an underlying and 13% at reported exchange rates - with comparable sales up 4%.

It said the timing of store footprint changes in the quarter resulted in lower average space year-on-year, reducing revenue by 1%.

Highlights: - Strength in Mainland China drove improved, mid single-digit percentage growth in Asia Pacific

- High single-digit percentage growth in EMEIA, led by strength in the UK

- Americas delivered a low single-digit percentage decline

- Beauty on track to transition to strategic partnership with Coty in October

Chief executive Marco Gobbetti said: "I am delighted to have started as Burberry CEO.

"We are pleased with our performance in the first quarter, while mindful of the work still to do.

"This is a time of great change for Burberry and the wider luxury industry.

"I look forward to building on the foundations Christopher and the team have put in place and creating new energy to drive growth."

Story provided by StockMarketWire.com

Related Company: BRBY

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