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Burberry third-quarter revenue up 9 pct
January 15, 2013 / 7:11 AM / 5 years ago

Burberry third-quarter revenue up 9 pct

LONDON, Jan 15 (Reuters) - British luxury brand Burberry posted a 9 percent rise in third-quarter underlying revenue as its wealthiest shoppers continued to spend even though some of its more aspirational consumers were impacted by faltering economies.

The 157-year-old seller of raincoats and leather goods, known for its camel, red and black check pattern, said on Tuesday it made 613 million pounds ($985 million) of revenues in the three months to Dec. 31.

That compared with analysts’ average forecast of 602 million pounds, according to a company poll, and 574 million pounds in the same period last year.

Comparable store sales growth was 6 percent versus analysts’ consensus forecast of a rise of 2 percent and a second quarter increase of 1 percent.

However, wholesale revenue was down an underlying 5 percent with the firm now forecasting it to be down in the second half by a low to mid single-digit percentage year-on-year.

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