Burberry Sales Increase Slightly Announces Third Quarter Financial Report This Fiscal Year

The 160 year old Burberry has been released on Thursday, and its retail sales revenue increased by 1% in the third quarter of this fiscal year, with a total sales of 603 million pounds.

What is noteworthy is that in mainland China,

Sales in Japan and Hongkong have risen, but the decline in the number of tourists from mainland China continues to show weakness in the Hongkong and Macao regions, which offset some of the growth in other regions.

Compared with the same period last year, sales in the Asia Pacific region dropped by a single digit.

However, excluding Hongkong and Macao, sales in the Asia Pacific region showed a single digit growth, and sales in South Korea also increased significantly.

In Europe, due to the warm winter and previous terrorist attacks, the number of tourists has declined, which has also had a certain impact on Burberry.

With the news of the third quarter growth, Burberry's share price also rose, and the market's concern about the decline in China's demand also slowed.

CFO Carol Fairweather of Burberry said: "we are very concerned about the global luxury sector.

Hongkong and Macao are still full of challenges. "

Burberry's performance in the Chinese market in the first half of the fiscal year was sluggish and sales fell sharply, leading to the failure of the group to achieve growth expectations and anticipate the future.

The environment of the industry will be very grim.

Burberry group said that the sales volume dropped by more than 20% in the third quarter, due to the sharp decline in passenger traffic in Macao, Hongkong.

China is one of the largest markets in Burberry, which accounts for the world's total.

About 30%~40%.

In the past year, China's unstable economic environment has greatly affected the sales of Burberry.

Analysts expect that Burberrry will strive to achieve the expected profit of 428 million a year by reducing rent, reducing employee benefits and suspending the employment of new employees.

Burberry group CEO Christopher Bailey says the luxury industry is getting harder and harder, and stressed: "the outlook for the luxury industry is still full of uncertainty, and consumers and the whole sales environment are changing.

But we will always keep an eye on market changes, seize every new opportunity and constantly improve our productivity. "