British fashion group Burberry on Wednesday reported a rise in second-quarter sales, boosted by its online division, but cautioned that currency fluctuations would hit profits this year. Revenues at the luxury retailer rallied 19 percent to £1.3 billion ($2.2 billion, 1.6 billion euros) in the six months to the end of March, compared with the same part of the prior financial year, Burberry said in a trading update. "We are pleased with our second half performance ... underpinned by the planned increase in investment in offline and online retail, innovative customer service and marketing," said chief executive Angela Ahrendts. She added: "While current exchange rates are a material headwind in what remains an uncertain macro environment, our continued global brand momentum provides an excellent foundation for the future." Burberry had already warned in January that it would be hampered by the strong pound, which costs the group more to convert other currencies back into sterling. The London-listed firm, famous for its trademark red, camel and black check design on luxury clothes and handbags, has undergone huge expansion into emerging markets under Ahrendts. Investors cheered the trading update with shares in the luxury retailer rising 2.67 percent on the London stock exchange to end the day at 1,460 pence. Ahrendts is due to leave Burberry in mid-2014, after eight years at the helm, to become head of retail at Apple. She will be replaced by Burberry's chief creative officer Christopher Bailey.
GMT 22:53 2018 Thursday ,13 December
Indian Minister of Trade meets with UAE Ambassador, Chairman of Emaar PropertiesGMT 13:41 2018 Thursday ,06 December
Tyre maker Continental opens lab to extract rubber from dandelionsGMT 15:23 2018 Friday ,30 November
Paper industry around famous Chinese lake to be shut down by 2019GMT 11:13 2018 Sunday ,18 November
Electricx 2018 kicks off with participation of over 20 countriesGMT 16:34 2018 Tuesday ,13 November
Amazon announces new headquarters in New York and WashingtonGMT 16:51 2018 Monday ,12 November
Egypt's exports to Nile basin countries reached EGP 19.9 bln in 2017: CAPMASGMT 08:11 2018 Friday ,09 November
Kaspersky Lab CEO suggests replacing cybersecurity with 'cyber-immunity'GMT 14:00 2018 Thursday ,08 November
Namibian enterprise endeavours to seize opportunities at China import expoMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor