Strong trading for Burberry

Burberry sales showed no signs of wilting in the recession today after the luxury goods retailer reported improved trading so far this year.

The group said store-based sales, which account for nearly 60% of its business, were up 3% on a like-for-like basis in the three months to March 31, compared with the fall of 3% seen in the previous quarter.

Though still challenging, Burberry said its markets in the United States, Europe and Spain all performed better, with operations in Korea and the UK posting “exceptional” performances in the period.

With the company also on track to deliver £50m (€56.2m) of annual cost savings, Burberry said it expected results for the 2008/09 financial year to be around the middle of the current range of market estimates.

Chief executive Angela Ahrendts said: “Burberry made good progress in the second half.”

Shares rose by more than 1% following today’s update.

More in this Section

Online tutoring service aiming to help families who can't afford grinds to scale up operationsOnline tutoring service aiming to help families who can't afford grinds to scale up operations

Protesters climb onto North Sea oil platformsProtesters climb onto North Sea oil platforms

German exports to UK drop again in first seven months of 2019German exports to UK drop again in first seven months of 2019

Businesses on both sides of Irish border ‘already affected by Brexit’Businesses on both sides of Irish border ‘already affected by Brexit’


Lifestyle

Helen O’Callaghan says we are the least strict in all of Europe.Praise over punishment: Irish parents least strict in Europe - study

Kya deLongchamps detects a hint of rebellion behind the ritual of afternoon tea.Vintage View: English tradition of afternoon tea won't exit with Brexit

Friends and Young Offenders actors Shane Casey and Dominic MacHale speak to Pat Fitzpatrick about struggling to make it but why they are not seeking out fame.‘I was down to a euro’ - The Young Offenders actors tell of struggle to make it in acting

Gerry Fitzgerald runs Bandon Books Plus in Riverview Shopping Centre, Bandon, Co Cork.We Sell Books: Turning over a new leaf from bank to bookshop in Bandon

More From The Irish Examiner