Strong retail sales drove firm gains in first-quarter revenues at British fashion house Burberry as chief executive Ms Rose Marie Bravo extended her contract for two years.
Total revenues for the three months to June 30th rose 14 per cent at constant exchange rates to €167 million sterling, with retail sales pushing 15 per cent higher to €90 million.
Burberry, whose new lines include a pink trench coat and excursions into ponchos and mini capes it calls catlets, also said its well-received autumn/winter collection would help it meet this year's financial goals.
Total reported revenues, which incorporate the currency effect, were 6 per cent higher at €156 million.
Driven by new store openings, retail sales accounted for more than half of group revenue in the quarter. Sales growth in the US market eased during the period, while continental European markets achieved "vigorous growth," Burberry said.
"The financial year is off to a good start . . . we achieved strong sell-through of remaining spring/summer merchandise and experienced an encouraging initial consumer response to our autumn/winter collections," Ms Bravo said.