NEW COLLECTIONS BOOST BURBERRY
14 November 2019
Luxury fashion brand Burberry has reported revenue growth in its interim results boosted by chief creative officer Riccardo Tisci's new collections.
The listed company achieved a revenue of £1.28bn for the 26 weeks ended 28 September 2019, up from £1.22bn in the same period of 2018.
Pre-tax profit also increased to £193m from £174m the year before.
Burberry said Riccardo Tisci's collections had achieved strong double digit growth with new products now accounting for about 70 per cent of its mainline retail store offer.
Despite the growth, the company said it had been affected by "considerable disruptions" in Hong Kong during the period.
Chief executive Marco Gobbetti said: "We are pleased with our performance in the half, as we remain on track to deliver the first phase of our strategy.
"New product now represents a high proportion of our assortment and the customer response has been positive delivering strong double digit growth. We also continued to strengthen momentum around our brand and transform our distribution."