Burberry, the British luxury firm known for its iconic check pattern and trench coat, saw revenue surge 21% to £574 million, or $883 million, for the three months ending December 31.Top line results were bolstered by 13% comparable sales growth, as London, Paris, Beijing and Las Vegas flagships performed above the company’s financial plan.
“Our investment in flagship markets and digital technology has enabled our global teams to continue to drive customer engagement, enhance retail disciplines and improve operational effectiveness, further strengthening brand momentum,” CEO Angela Ahrendts said.
Burberry saw lift from the launch of its news women’s fragrance line, Burberry Body, as well as the opening of six mainline stores, including one in São Paulo.
However results were again driven by its core outerwear and large leather goods product, accounting for close to half of retail sales. The company said its fastest growing categories were knitwear, men’s accessories and tailoring, perfume and watches.
Burberry showed its men’s fall 2012 collection in Milan this weekend to critical review. Following on past success, the company will allow customers to pre-order goods seen on the runway directly after the show, an uncommon practice amongst luxury players.
Ahrendts’ firm has benefitted from this strong online format, which includes the ability to tap demand at its height after a show, and through social media pushes like ArtoftheTrench.com.
“Looking ahead, we remain focused on executing our proven core strategies to achieve long-term sustainable growth, while staying mindful of the challenging macro environment,” she said.
Burberry will announce full year results on May 23