Burberry Summary Of Sales Data For The First Half Of Fiscal Year

Sales figures for the first half of the fiscal year: Despite the decline in the pound's exchange rate against the mainland

The sale played a catalytic role, but it was affected by the United States.

The decline in store sales also led to a decline in overall sales.

Total sales amounted to 1 billion 159 million pounds, up 5% over the same period last year, down 4% from a year earlier.

Retail sales amounted to 859 million, up 11% compared with the same period last year, rising 2% over the same period.

The comparable retail sales in the second quarter increased by 2% over the same period last year, rising for the first time in the past year.

With fixed exchange rates, wholesale sales fell 14% to 287 million pounds over the same period last year.

At present, 80% of Burberry's sales are from overseas markets.

The comparable retail sales in the Asia Pacific region showed a decline in the low single digit.

If the Hongkong and Macao markets are excluded, the Asia Pacific region will show an overall upward trend in retail sales.

The comparable retail sales in mainland China achieved a median growth in the second quarter, but the performance of Hongkong and Macao remained weak, with comparable retail sales in Hongkong showing a two digit decline.

EMEIA (Europe, Middle East and Africa) can achieve lower digit growth than comparable sales.

The comparable sales in the second quarter of the United Kingdom increased by 30% over the same period last year, and played a significant role in promoting the overall performance.

The performance of other European countries is weak, and tourist consumption continues to decline.

Comparable sales in the Americas market fell by a low figure.

Demand for local consumers is sluggish, and tourist consumption has fallen two digits.

Sales of digital channels have been good, and growth has been achieved in all markets.

Because of the strong performance of British sales, the current sales share has increased from 10% to 15%.

40% of the total cost of the Burberry group is from the UK.

Burberry group said that if the exchange rate of sterling continued to remain at the level of October 12th, it would boost the adjusted annual profit, estimated to grow by about 105 million pounds.

Burberry group's CFO Carol Fairweather said that since the European Union, the demand for local consumers and tourists in the UK market has been very strong.

"The consumption of Chinese tourists is increasing rapidly, and the consumption of tourists in other countries, including the United States, is also rising."

She said.

The group's CEO Christopher Bailey said that the group is now adjusting according to the plan and has achieved initial success.

He will leave next year, and Marco Gobbetti from French luxury brand Celine will take over.

"In addition to the favorable impact of exchange rate, Burberry has not yet found an effective way to achieve growth."

Liberum, a stockbroker, said that the demand for us department stores will not improve in the second half of the year.

His current rating on Burberry stocks is "sold out".

Citi analysts said that the exchange rate of the pound fell, and that Burberry had "made room for adjustment" under the difficult circumstances.

Burberry group said it expects the total sales volume will decline by double digits in the year 2016 to 2017.

Driven by new stores, retail sales are expected to achieve low single digit growth.

Burberry plans to open about 15 new stores in the second half of this year.