More Tisci Products Nudge Burberry Retail Revenues Up 1% in Q3

LONDON – Burberry’s growth slowed in the crucial third quarter of the year, with retail revenue rising 1 percent to 719 million pounds at reported rates, and 2 percent at constant exchange. That compares with the first half of the current fiscal year, where revenue was up 5 percent at reported exchange rates and 3 percent at constant ones. During the same period a year ago, Burberry’s retail revenue had fallen 1 percent at reported exchange rates and 2 percent at constant ones. Burberry said in a trading update Wednesday that new products designed by chief creative officer Riccardo Tisci continue to perform well, and now account for 75 percent of the mainline stores’ retail offer. Worldwide, same-store sales growth was 3 percent, compared with 1 percent in the previous fiscal year. That growth was led by full-price sales, and despite continued disruptions in Hong Kong, Burberry said. Asia-Pacific grew by a low single digit percentage driven by Mainland China, which was up in the mid-teens, while sales in Hong Kong halved. Tourist spend boosted sales in the EMEIA region, with Continental Europe in particular benefiting from tourist spend. The Americas were stable, with the U.S. growing by a low single-digit percentage, partially offset by Canada. The

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