Burberry reassures on LFL sales and margin

Things are not as bad as feared at luxury fashion chain Burberry, which still saw some like-for-like sales growth in the second quarter of its financial year despite warning last month of a material slow-down in its retail business.

Things are not as bad as feared at luxury fashion chain Burberry, which still saw some like-for-like sales growth in the second quarter of its financial year despite warning last month of a material slow-down in its retail business.

"Against record prior year comparatives, Burberry delivered 8% total revenue growth and 10% retail growth in the first half, albeit slowing in the second quarter. In a more challenging external environment, footfall declined but brand momentum remained strong, particularly with our higher spending luxury consumer," said Angela Ahrendts, Burberry's Chief Executive Officer.

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