Burberry benefits from weak pound

LONDON - Burberry has benefitted from the weak pound with Chinese and European bargain hunters helping drive sales.

Burberry benefits from weak pound

The fashion brand, usually associated with the chav sub-culture, recorded double-digit growth in sales in its London stores with theh Chinese proving its biggest customers.

 

Total revenues for the six months to the end of March were up 21% although up only 2% on a constant currency basis, while sales at its own staores - where it makes 58% of all revenues - were £385m, up 14%.

 

However the company experienced declines in its licensing division, which licenses its name to be used on perfumes, watches and menswear, were down 12%. Burberry attributed this to poor department store sales in Japan, which accounts for 70% of its licensing business.

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