Burberry retail revenue up 13% thanks to “outperforming” digital sales
Luxury retailer Burberry has reported a 13 per cent rise in its retail sales boosted by growing online and digital sales. Retail revenue rose to £928m in the six months to 31 March, in line with expectations, with sales at stores rising by 12 per cent. Burberry said that reflecting changing consumer behaviour, footfall offline remained soft, while online traffic grew, thanks to increased investment in services such as click-and-collect across its store portfolio. On a conference call for investors and analysts chief finance officer, Carol Fairweather, said Burberry would be investing further into its burgeoning Chinese market, particularly within digital. “The investment we are making within China in digital, in terms of fulfilment and payment options, will go live this year – that’s a key trend for us as well as the Chinese luxury customer is younger than the Western luxury customer and very digitally savvy.” Earlier this week Burberry unveiled its new Shanghai flagship store which aims to blur the “physical and digital”.