Burberry steps up expansion

Fashion house Burberry has unveiled plans to expand its store space by more than 10% after a bumper finish to its financial year.

The 155-year-old maker of raincoats and handbags reported a 32% surge in revenues to £390m (€444.9m) in the three months to March, which it said would result in full-year profits being at the top end of expectations.

Burberry, best known for its camel, red and black check, said it would increase store space by 12% to 13% in average retail selling space in the financial year to March 2012, mainly in China, Latin America and the Middle East.

The retailer warned licensing revenues in Japan, where a licensed dealer sells Burberry goods to about 800 outlets, would be broadly flat throughout the year.