Burberry holds its own in difficult market


Burberry holds its own in difficult market

Burberry has posted its half-year results with revenue at £1.3bn for the 26 weeks to October 1st, 2022 as compared with £1.2bn for the same half in the previous year. Adjusted operating profit was £238m as compared with £196m. The business said that its near-term guidance is maintained despite a challenging macro environment and recessionary risks in Europe and the Americas. It has set a new medium-term target to grow its sale to £4bn.

Jonathan Akeroyd, CEO, Burberry said: “Burberry has an extraordinary legacy, a unique British heritage and a very strong platform to build on, as shown in our half-year results.

“Our focus in this next phase is on growth and acceleration. We have a clear plan to achieve this across brand, product and distribution and  a very talented designer in Daniel Lee, supported by a passionate team.”

During the half year, the business had opened and renovated 22 stores and is currently planning to open and refurbish a further 65 stores.

Akeroyd added: “I am excited about what we can achieve in pursuit of our long term ambition to reach £5bn in revenue.”

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