363
Fashion Jobs
UNDER ARMOUR
Associate, HR Administration
Permanent · SEOUL
ARKET
Visual Merchandising Manager
Permanent · BUSAN
PUIG
Marketing Manager
Permanent · SEOUL
JAEGER
[Jaeger Lecoultre] Marketing & Communication Director
Permanent · SEOUL
ESTÉE LAUDER COMPANIES
Corporate Account Executive For Travel Retail Korea, Estee Lauder Companies
Permanent ·
ESTÉE LAUDER - BRAND
Assistant Education Manager, Estee Lauder
Permanent · SEOUL
L'OREAL GROUP
[l'Oreal Korea] Luxe Div. - Lancome E-Commerce Specialist
Permanent · SEOUL
COS
Instore Visual Merchandiser Manager_seoul/Gyeonggi
Permanent · SEOUL METROPOLITAN AREA
AESOP
Shinsegae Gwangju - Retail Consultant
Permanent · GWANGJU
COACH
Manager, Ecommerce
Permanent · SEOUL
ADIDAS
Manager, Business Planning & Analysis, Wholesales
Permanent · SEOUL
HENKEL
Adhesive Key Account Manager For Sports And Fashion Market
Permanent · BUSAN
HENKEL
Consumer Brands General Manager Assistant
Permanent ·
HYPEBEAST
Brand Partnership Manager
Permanent · SEOUL
ADIDAS
Manager, Retail Marketing - Originals, Brand Adidas
Permanent · SEOUL
ADIDAS
Manager, bu - Football Apparel, Brand Adidas
Permanent · SEOUL
SWAROVSKI
District Manager (Travel Retail)
Permanent · SEOUL
SHISEIDO
E-Key Account Manager, Cosmetics&Fragrance (Korean Only)
Permanent · SEOUL
ADIDAS
sr. Manager, Process Excellence & Analytics, Scm
Permanent · SEOUL
ADIDAS
Director, Performance Management/s&op
Permanent · SEOUL
LEVI'S
DTC Assistant Marketing Manager
Permanent ·
AMORE PACIFIC
[경력] '24년 Amorepacific_기술기획 직무 채용
Permanent ·
By
Reuters
Published
Jul 15, 2008
Reading time
3 minutes
Download
Download the article
Print
Text size

Funky shoes and raincoats help Burberry weather storm

By
Reuters
Published
Jul 15, 2008

By Mark Potter

LONDON (Reuters) - Luxury goods group Burberry says its sales are holding up well in increasingly tough trading conditions, helped by demand for funky shoe styles and variations of its classic trench coat.


Burberry spring-summer 2008

The firm, best known for its camel, red and black check, beat forecasts on Tuesday with a 26 percent rise in first-quarter revenues.

But the out performance was due mainly to early shipments of Autumn/Winter ranges in its wholesale business, which the group said would even out in the months ahead.

Burberry, which began in 1856 and made its name equipping polar explorers, said sales at shops open at least a year rose 4.5 percent in the three months to June 30.

That was down from 6 percent in the fourth quarter, but Chief Financial Officer Stacey Cartwright said that excluding another weak performance from its Spanish business, first-quarter growth held at around the same level.

"Retail sales patterns remain volatile on a weekly basis, but we benefited from our geographic diversity," she told reporters on a conference call, adding sales were driven by demand from the United States, France, Germany and South Korea.

Burberry shares have lost around a fifth in value over the past month on fears a slowdown in consumer spending will hit sales, although luxury goods groups believe their wealthy customers are more immune to a downturn than others.

The British Retail Consortium underscored that trading in Britain remains tough, reporting a 0.4 percent annual fall in the value of like-for-like retail sales in June.

However, Sweden's Hennes & Mauritz , the world's third-biggest clothing retailer by sales, defied doomsters with an 8 percent rise in June sales.

JP Morgan analysts said they would keep their full-year forecasts for Burberry unchanged given tough trading conditions.

"Still, no change is better than what most could fear," they wrote in a research note.

FUNKY WELLIES

Burberry, which has 97 stores along with 245 concessions, 41 outlets and 80 stores operated under franchise, said first-quarter revenues rose 22 percent at constant exchange rates to 211 million pounds.

Forecasts ranged from 188 million to 204 million pounds in a Reuters poll of five analysts.

Cartwright said the group's classic trench coat continued to sell well, including new variations in lighter-weight fabrics and more fitted styles, and that shoes were also in demand.

"The funkiest and the most over the top as possible, that's what's really selling ... from the top of the pyramid to wellies," she said.

Sales in Britain, which account for less than 7 percent of the total, were "nicely positive," Cartwright added.

However, same-store sales in Spain plunged by a double-digit percentage. Cartwright said the group was taking steps to improve its performance in a difficult market by involving global product and marketing teams more closely in the business.

Wholesale revenues surged 43 percent at constant exchange rates, due largely to earlier shipments of Autumn/Winter ranges, and the group kept its forecast for wholesale revenue growth of an underlying 10 percent in the six months to Sept, 30.

Licensing revenues were up an underlying 3 percent.

Burberry shares, which have underperformed the DJ Stoxx personal and household goods index by 9 percent this year were down 0.9 percent at 393.5 pence by 9:30 a.m., valuing the firm at about 1.7 billion pounds.

(Editing by Quentin Bryar and Sue Thomas)

© Thomson Reuters 2024 All rights reserved.