British luxury fashion six hot season. Burberry reduced profit forecast in September last year, the sales slowdown in China and the global macroeconomic uncertainty. But a few weeks later, retailers, sales picked up, and this trend in the third quarter, continue fueling optimism that the luxury goods industry will not suffer a similar fate of reversal observed in 2009.
"We expect the global external environment remains challenging, but saw an opportunity to continue in our existing business, increase productivity, and invest in high-growth areas of the sub-penetration product categories, channels and media." CEO Angela Ahrendts said.
China sales back to December 31, three months, in order to help his sales jumped 15% in the Asia-Pacific released. 574 million pounds last year, total sales reached £ 613 million pounds ($ 985.5 million), an increase of 9%, which exclude the impact of currency fluctuations. Analysts had expected sales of 602 million pounds, from FactSet estimates.
From the store, it owns and represents about three-quarters of its revenue, retail sales increased by 13% to 464 million pounds, offset by turnover decreased by 5% to $ 1.2 million, essentially, from the sales department stores and independent retail providers.
Burberry flat wholesale revenues had predicted in the second half of the year, but lowered expected Tuesday-digit percentage decrease was primarily due to Italy's weakness in sales of single.
In the whole of Europe, many of the luxury goods company, multi-channel retail and direct delivery to the hat shop and other the wholesale buyers political control prices, markdowns to prevent the end of the season,
Tuesday on a conference call, CFO Stacey Cartwright told reporters, the brand and image of this reform plan in Europe, while the Group's management of its customers, the company also decided to take stock of some of Italy's independent shop, they consider the credit risk.
"We come to something, we are very pleased to embark on a more cautious view of the market, and the amount of credit risk, we are willing to do," Mrs. Cartwright told analysts Tuesday in a conference call. "Italy is the largest wholesale market, is a multi-brand stores by the smallest mom and pop", rather than a department store.
However, in the U.S. and emerging markets as well as in Asian airports and other transportation hubs wholesale sales grew. However, Ms. Cartwright said, industry, once considered mainly by the broad impact of the global economic downturn, still unstable, because the number of buyers to get their foot in the drop-down boutiques. Sales of the more expensive items, exhibits attractive and compelling suppliers to help offset the lower numbers of shopping Ms. Cartwright said.
Burberry does not provide retail stores sales forecasts, but reiterated the sales area is expected to increase by 14% in the second.