Burberry Says Sales Rise, But Is Cautious on Weak Yen
Burberry Group, the British luxury goods company, saw its total revenue rise 19 percent in the first half broadly in line with analyst expectations and helped by a rapid opening of new stores.
"The weakness of the yen is expected to reduce reported revenue and profit by about a further 3 million pounds ($6 million) in the second half," Burberry said in a statement.
In the half year, Burberry's retail revenue increased 25 percent, with comparable same store sales growth of 11 percent.
Wholesale revenue increased by 16 percent as expected, with a further mid-teens percentage increase forecast for the second half, Burberry said.