LONDON, United Kingdom — Burberry Group Plc, the U.K.’s largest luxury-goods maker, reported quarterly sales that beat estimates, buoyed by strong demand for trenchcoats and cashmere scarves in the Americas.
Retail revenue in the three months ended Dec. 31 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 16 estimates compiled by Bloomberg. Comparable sales climbed 8 percent.
Comparable sales grew by a double-digit percentage in the Americas, compensating for disruption in Hong Kong. The trenchcoat maker, which took over the windows at Printemps department store in Paris during the holidays, continues to outperform the industry, aided by digital investment, according to JPMorgan Chase & Co. analysts.
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.”
Burberry shares were little changed in London yesterday. The stock gained 7.9 percent last year, its sixth consecutive annual advance.
By: Andrew Roberts; editors: Celeste Perri and Robert Valpuesta.
