Burberry Second-half Results Boosted by Resurgent Demand in China_Branding Packaging for Fashion Industry-Sinicline

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Burberry Second-half Results Boosted by Resurgent Demand in China
Release time:2013-05-22 Source:admin Reads:
British luxury group Burberry posted a 10 percent rise in fourth quarter revenue as strong demand for its more expensive products in China helped it beat sales forecasts for the second half of the year. Even if the gold price is slumping, an increasing number of consumers show crazy interest in purchasing gold jewelry, especially those attached with jewelry cards however, Burberry compares favorably with sales volumes of jewelry goods. 　　The seller of raincoats and leather goods, known for its camel, red and black check pattern, said on Wednesday fourth quarter group sales rose to 503 million pounds ($769 million), building on better-than-expected third-quarter results after a strong Christmas period. 　　 That took revenue for the six months to March 31 to 1.116 billion pounds, ahead of analysts' expectations. 　　Last September, Burberry shook the global luxury industry by warning of a spending slowdown, particularly in China - the driving force behind demand in recent years - but it has been more upbeat recently, highlighting a rebound in Chinese demand while posting third-quarter sales in January. Compared to gold jewelry attached with jewelry cards, Burberry is far more expensive, yet there are still a great many Chinese costumers rushing to the shop. 　　Retail sales, which make up 75 percent of group revenue, grew 14 percent to 376 million pounds in its fourth quarter, Burberry said, as higher average spending helped offset lower numbers of shoppers. 　　Comparable store sales are increased by 7 percent, including double-digit rises in the Chinese mainland and Hong Kong. 　　 It said it expected net new openings to deliver a low to mid-single digit increase in retail revenue in its 2013/14 year. 　　Even if gold price is declining around the world, consumers are more willing to buy jewelry whatever it is packaged with jewelry cards or not, it seems hard to compete with luxury goods giants headed by Burberry.

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