HOME -> Brand Apparel News -> China Brand Apparel News -> Burberry targets expansion as it returns to profit
Burberry targets expansion as it returns to profit
In the past year it has opened 21 new stores and closed nine. It plans to open 20-30 stores this year worldwide.![Burberry targets expansion as it returns to profit]( "Burberry targets expansion as it returns to profit")
Luxury fashion designer Burberry has returned to profit after opening new stores and spending more on online marketing
Burberry reported pre-tax profits of £166m for the year to March. A year ago it made a loss of £16.1m, hit by charges at its Spanish operations.
In the past year it has opened 21 new stores and closed nine. It plans to open 20-30 stores this year worldwide.
The group has also focused on promoting the Burberry brand online.
Sales rose 7% to £1.28bn, with the company recording double-digit sales growth in Europe and Asia Pacific.
Adjusted profit rose 23% to £215m, taking into account one-off items and a favourable exchange rate.
Stores in London in particular benefited from favourable currency movements and increased tourism.
"Looking forward, while mindful of the economic environment, Burberry plans to build on its strong financial position by accelerating investment in growth initiatives in retail, digital and new markets, while continuing to enhance the brand," said chief executive Angela Ahrendts.
Burberry shares were up 7.6% at 659 pence in afternoon trading.
POST: 2024-11-24
Luxury fashion designer Burberry has returned to profit after opening new stores and spending more on online marketing
Burberry reported pre-tax profits of £166m for the year to March. A year ago it made a loss of £16.1m, hit by charges at its Spanish operations.
In the past year it has opened 21 new stores and closed nine. It plans to open 20-30 stores this year worldwide.
The group has also focused on promoting the Burberry brand online.
Sales rose 7% to £1.28bn, with the company recording double-digit sales growth in Europe and Asia Pacific.
Adjusted profit rose 23% to £215m, taking into account one-off items and a favourable exchange rate.
Stores in London in particular benefited from favourable currency movements and increased tourism.
"Looking forward, while mindful of the economic environment, Burberry plans to build on its strong financial position by accelerating investment in growth initiatives in retail, digital and new markets, while continuing to enhance the brand," said chief executive Angela Ahrendts.
Burberry shares were up 7.6% at 659 pence in afternoon trading.
POST: 2024-11-24
More Apparel Brand News
- 06-02· Rihanna Reinvents the Shirt Dress With a Simple Styling Trick
- 06-02· Trump Announces America’s Exit From the Paris Climate Accord
- 09-07· Bella Hadid Joins Her Sister as a Victoria's Secret Model
- 09-06· I know my children, Honor and Haven, are growing up in a safer home because of our products.
- 09-06· This is How You Get More Followers on Social Media
- 09-05· This Is What the New Look of Leadership Really Looks Like
- 09-05· The Celebrity Guide to Emerging From the Ocean Gracefully
- 08-25· The Jungle Book Gets the Hollywood Treatment, a Reason to Toast to Kate Moss Breast, and More of the News You Missed Today
- 05-19· Creativity Without Commercial Restraints at SCAD's Annual Student Fashion Show
- 05-16· A.P.C. Invests in Vanessa Seward's New Label
NEWSLETTER SUBSCRIBE (EMAIL)
- 05-281FRANCO FERUZZI : wallet
- 05-212BETTA : Babies Slippers
- 05-093NAVIGARE : BUSINESS ISSUE
- 05-014KAYEE : Kaye Ka Italian casual ar
- 05-015KAYEE : Men's trousers
- 04-256CABLE&CO. : mens shoes
- 04-107ROMUS : returns on efective shoes
- 03-278MONDI : Pants
- 03-069LINDI : Tunic
- 02-2310KOSHA : Order
Fashion News
- Rihanna Reinvents the Shirt Dress With a Simple Styling Trick
- Trump Announces America’s Exit From the Paris Climate Accord
- Bella Hadid Joins Her Sister as a Victoria's Secret Model
- I know my children, Honor and Haven, are growing up in a safer home because of our products.
- This is How You Get More Followers on Social Media
- This Is What the New Look of Leadership Really Looks Like
