- British luxury brand Burberry Group ADR (OTC:BURBY) reported its second-quarter FY23 comparable store sales growth of 11%.
- The progress happened due to increased tourist spend.
- The brand reported first-half revenue of £1.35 billion, a 5% Y/Y increase in constant exchange rates, and 11% on a reported FX basis.
- Adjusted operating profit for the period climbed 6% at CER to £238 million.
- Chief Executive Officer Jonathan Akeroyd presented the strategy for the next phase for Burberry, including a target to double sales of leather goods, shoes, and women's ready to wear.
- "Burberry has an extraordinary legacy, a unique British heritage and a very strong platform to build on, as shown in our half-year results," said Akeroyd.
- The strategy also aims to refocus on Britishness and strengthen the connection with British design, craft and culture.
- Price Action: BURBY shares closed lower by 2.82% at $23.23 on Wednesday.
- Photo Via Company
British Fashion Brand Burberry's H1 Sales Climb 11%; Unveils Growth Strategy
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
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