Burberry sales continue to flatter
Ahrendts, who is due to step down in the summer for a job at Apple, yesterday revealed a 13 per cent rise in retail revenues to £928 million for the six months to 31 March, with demand for the British firm’s handbags and scarves in China and Korea particularly strong.
The update ahead of full-year results on 21 May was partially overshadowed by the company’s warning on the strength of the pound, which is likely to have a “material” impact on profits in the current financial year.
Advertisement
Hide AdAdvertisement
Hide AdBased on trading in 2014, Burberry said currency exchange rate movements would reduce profits in retail and wholesale trading by about £30m.
Ahrendts, who has been with the group for seven years, will be succeeded by Yorkshire-born chief creative officer Christopher Bailey.
The 158-year-old business, which is based in London, has 215 retail stores, 227 concessions, 55 outlets and 70 franchise stores.