- British luxury brand ADR of the Burberry group BURBY reported its comparable store sales for the second quarter of fiscal 23 growth from 11%.
- The advance happened due to increased tourist spending.
- The brand reported H1 sales of £1.35 billion, up 5% Y/Y in constant currency and 11% on a reported currency basis.
- Adjusted operating profit for the period rose 6% at CER to £238m.
- Chief Executive Officer Jonathan Akeroyd presented the strategy for the next phase for Burberry, including a goal to double sales of women’s leather goods, footwear and ready-to-wear.
- “Burberry has an exceptional legacy, a unique British heritage and a very strong platform to build on, as demonstrated by our half-year results,” said Akeroyd.
- The strategy also aims to refocus on Britishness and strengthen the connection to British design, craft and culture.
- Price promotion: BURBY shares closed down 2.82% at $23.23 on Wednesday.
- Photo via company
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