Burberry Group Plc, (BRBY) the U.K.’s largest luxury-goods maker, reported quarterly revenue that beat estimates as its holiday campaign featuring Romeo Beckham helped boost sales of trench coats and cashmere scarves in the Americas.
https://www.youtube.com/watch?v=87556Xu5nnU
Retail revenue in the three months through December rose 14 percent to 604 million pounds ($916 million), London-based Burberry said today in a statement. Analysts predicted 579 million pounds, according to the median of estimates compiled by Bloomberg.
Beckham, the son of former soccer player David Beckham and singer-turned-fashion designer Victoria Beckham, starred in Burberry’s festive campaign, which focused on London and the company’s core product, the trench coat. It helped drive a double-digit percentage increase in comparable sales in the Americas, which compensated for a decline in Hong Kong.
Photo: Courtesy of Burberry
“A strong quarter by Burberry,” said Luca Solca, an analyst at Exane BNP Paribas, citing the fashion company’s leading online position and more accessible price position versus peers. Burberry shares were little changed at 1,666 pence at 8:09 a.m. in London, for a 12-month advance of 13 percent. Comparable sales climbed 8 percent. The performance reflects Burberry’s “commitment to every element of the customer experience,” Chief Executive Officer Christopher Bailey said in the statement. “We will bring equal focus to maximizing the opportunities in the final quarter, including the Lunar New Year, while being mindful of what remains a challenging external environment.”
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Written by Celeste Perri and Andrew Roberts and Posted at bloomberg.com.
