Burberry Retail Revenue Jumps 4% as Tisci’s Designs Build in Stores

LONDON – Burberry’s retail revenue rose 4 percent to 498 million pounds in the first quarter as Riccardo Tisci’s new designs began to dominate shop floors internationally. At constant exchange rates, revenue was up 2 percent, while comparable store sales climbed 4 percent in the 13 weeks ended June 29. Burberry said Tisci’s new collections, including men’s and women’s apparel, grew by a double-digit percentage compared to the prior year, with the proportion of new Tisci designs increasing to around 50 percent in June, compared with 10-15 percent in March. That spike in the number of new designs hitting the shop floor underpinned the improvement in comparable store sales growth, Burberry said. “This was the first quarter where the proportion of new product in our stores was meaningful and the response from consumers was very promising. New collections delivered strong double-digit percentage growth, with all regions ahead of prior year equivalent collections. Consumers responded positively to the new aesthetic and house codes,” Burberry said in a trading update on Tuesday. The response to the new product was also strong in wholesale, where many of Burberry’s luxury doors saw “significantly higher” sell-through compared to previous collections. Accessories was a weak spot, with sales declining. Burberry argued that the

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