Burberry generated revenue of £1,105m
In the second quarter, demand from luxury consumers, particularly Chinese customers, was affected by a more challenging external environment. For Burberry, this impact was amplified by company's geographic mix. Wholesale and licensing revenues were broadly consistent with guidance.
Burberry said that its retail sales up 2% underlying in an increasingly challenging environment for luxury customers. Total revenue was £1,105m, retail revenue £774m, up 2% underlying, wholesale revenue was £305m (down 3% underlying) and licensing revenue was £26m, (down 18% underlying), both as expected.
Comparable sales growth was 1%. Double-digit percentage growth happened in EMEIA driven by the travelling luxury customer, particularly in continental Europe; low single-digit percentage growth was in Americas: uneven demand in the United States; double-digit percentage growth was in rest of Americas; mid single-digit percentage decline happened in Asia Pacific: Hong Kong decelerated further in second quarter. ■