Tourists from continental Europe and China buying Burberry clothing and accessories helped the luxury goods company to navigate the downturn during the past three months. As was published in the Financial Times, Thomas said sales excluding currency movements fell 4 per cent in the three months to June 30, while they were up 8 per cent including the effect of exchange rate movements. However, retail sales were healthier, rising 12 per cent excluding currency movements. Stacey Cartwright, finance director, said buyers from continental Europe and China, encouraged by the weak pound, were heading to its British shops. "They are hunting out Burberry because of the brand momentum we have right now. We are hugely attractive from the point of view of the heritage and the iconic pieces we are offering," she said.
However, US consumers were not flocking to Burberry in the same way, she said. "The issue for the US consumer is they are feeling the pinch a little bit more extensively in that market than perhaps across Europe and Asia. With the exchange rate back up at $1.65 it's less attractive to them," she said. While consumers may be spending, department stores are reining in their purchases. Thomas said wholesale sales fell 28 per cent, in line with its own expectations of a 25 per cent decline. Some 15 percentage points reflected stores buying less stock, while 10 percentage points was from his own initiatives, such as discontinuing the Thomas Burberry sportswear brand, sold mainly in Spain.
Comparable store sales have elevated by 10 for each cent. There were great performances from outerwear (a lot more innovation and diversification in this core category) and from non-apparel (ongoing product advancement in gentle equipment, productive capsule collections in large leather-based goods as well as a broader supply in sneakers). Digital media initiatives helped to drive traffic while the Burberry Encounter sales and repair programmed aided to push conversion. With robust complete price sell-through of the Autumn/Winter collections and lowered procurement, stock ranges at 31 December 2009 were considerably reduce year-on-year. As prepared, this will reduce clearance exercise in the current fourth quarter in comparison to final yr, impacting profits but benefiting gross margin.
Burberry sales boosted by Asia: It is expected to confirm on Tuesday that its sales are continuing to boom in Asia. Sales in countries such as Japan have jumped by a fifth in the past three months on the popularity of expanded ranges of shoes and children swear introduced across the globe. Worldwide own-store sales are believed to have grown by more than ten per cent in the second half of its financial year to March, excluding the impact of foreign currency changes. Dennis Weber of broker Evolution Securities was quoted in the Daily Mail he predicted 'strong' figures.
The designer Burberry purses are one hundred fifty many years old and its advancement commenced in England. The Burberry handbags development was created from the Thomas on whose identify bag is known as Burberry. These bags arrived into getting throughout the occasions in which inside the fashion was less complicated but the quality and wish to appear fashionable was identical since it is nowadays. The stylized search and quality was tough to modify since it is very difficult to improve on the best items.
However, US consumers were not flocking to Burberry in the same way, she said. "The issue for the US consumer is they are feeling the pinch a little bit more extensively in that market than perhaps across Europe and Asia. With the exchange rate back up at $1.65 it's less attractive to them," she said. While consumers may be spending, department stores are reining in their purchases. Thomas said wholesale sales fell 28 per cent, in line with its own expectations of a 25 per cent decline. Some 15 percentage points reflected stores buying less stock, while 10 percentage points was from his own initiatives, such as discontinuing the Thomas Burberry sportswear brand, sold mainly in Spain.
Comparable store sales have elevated by 10 for each cent. There were great performances from outerwear (a lot more innovation and diversification in this core category) and from non-apparel (ongoing product advancement in gentle equipment, productive capsule collections in large leather-based goods as well as a broader supply in sneakers). Digital media initiatives helped to drive traffic while the Burberry Encounter sales and repair programmed aided to push conversion. With robust complete price sell-through of the Autumn/Winter collections and lowered procurement, stock ranges at 31 December 2009 were considerably reduce year-on-year. As prepared, this will reduce clearance exercise in the current fourth quarter in comparison to final yr, impacting profits but benefiting gross margin.
Burberry sales boosted by Asia: It is expected to confirm on Tuesday that its sales are continuing to boom in Asia. Sales in countries such as Japan have jumped by a fifth in the past three months on the popularity of expanded ranges of shoes and children swear introduced across the globe. Worldwide own-store sales are believed to have grown by more than ten per cent in the second half of its financial year to March, excluding the impact of foreign currency changes. Dennis Weber of broker Evolution Securities was quoted in the Daily Mail he predicted 'strong' figures.
The designer Burberry purses are one hundred fifty many years old and its advancement commenced in England. The Burberry handbags development was created from the Thomas on whose identify bag is known as Burberry. These bags arrived into getting throughout the occasions in which inside the fashion was less complicated but the quality and wish to appear fashionable was identical since it is nowadays. The stylized search and quality was tough to modify since it is very difficult to improve on the best items.
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These can also be bought in Burberry Bags On Sale that you can trust such as burberry-outlet-au. This can be less difficult than buying in the physical Burberry stores.
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