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Burberry: H1 sales rise seventeen percent

By FashionUnited

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British fashion label Burberry posted seventeen percent first-half sales growth this week, confirming it was on track to hit results forecasts.

Burberry, famous for its trademark beige check, said total revenues for the period hit 321 million pounds, driven by double-digit increases in all its main business areas. Outgoing Chief Financial Officer Mike Metcalf said that, while it was too early to assume that the effects on luxury markets of the SARS pandemic and the Iraq war were over, many of the key luxury markets were recovering.

The group's strongest growth driver is currently the United States, where the "Brit" fragrance was recently reported by department store Bloomingdale's as its most successful perfume launch ever. Furthermore, retail sales increased twenty percent on an underlying basis, driven partly by new store openings.

The company's expansion programme continues, with new outlets including a 5,000 square foot store in Moscow scheduled to open in early 2004. Wholesale sales were 14 percent higher, reflecting double-digit growth for the autumn/winter 2003 season and what the company called "solid growth across all regions".