Burberry Group plc (BRBY.L) said Tuesday that it now expects adjusted profit before tax for the financial year to be towards the top end of market expectations, after reporting third-quarter sales of £380 million, up 12% on an underlying basis and up 15% on a reported basis from last year.
Retail sales for the quarter increased by 16% on an underlying basis, of which new space contributed 6%. Wholesale revenue grew 5% on an underlying basis, while total licensing revenue in the third quarter fell by 3% on an underlying basis, impacted by timing differences of royalty receipts.
Angela Ahrendts, Chief Executive Officer, said, " While continuing to plan cautiously for 2010/11, we are confident that our strategies by product, region and channel - underpinned by operational efficiencies - will drive profitable growth."
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