Total revenue in the first half increased 10% on an underlying basis (adjusted for the Taiwan acquisition, the portion of Burberry’s business in Spain affected by the retail conversion and exchange rate differences).

Retail sales accounted for approximately 43% of total revenue in the period, increasing 23% underlying, 36% reported. The Taiwan acquisition and Spain retail conversion contributed approximately 13 percentage points to the reported gain.

Building on strong first quarter performance, retail sales accelerated in the second quarter. Underlying retail sales increased 28% on a 14% comparable store sales gain and 15% selling space addition in the quarter. In the US, existing stores, complemented by new store space, drove strong sales growth. The UK market achieved another double-digit gain on the strength of existing stores and concessions. Asia achieved good underlying growth led by existing stores in Hong Kong and other Southeast Asian markets.

Wholesale sales accounted for approximately 46% of total revenue in the first half and increased by 1%.

Total licensing revenue in the first half increased 5% on an underlying basis, 3% reported. In Japan, volume gains among ongoing licenses were offset by the effect of licence terminations, resulting in a moderate underlying decline in revenue.

Commenting on the trading results, CEO Angela Ahrendts stated, “Continued strength in outerwear and womenswear as well as the extraordinary consumer response to the launch of the Burberry Icons Collection of luxury handbags have fuelled excellent retail performance across markets.”

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