Burberry maintains profit forecasts

British luxury goods company Burberry has maintained its full-year outlook after revenue rose 18 per cent to £339 million during the three months to June.

Burberry says first quarter comparable store sales grew 13 per cent with double-digit growth in Asia Pacific and Americas while Europe, Middle East, India and Africa contributed single-digit growth.

Comparable store sales were highest in Hong Kong and China, and Korea showed early signs of improvement.

Burberry opened seven mainline stores and closed six during the period. Openings included two stores in Shanghai, a third store in Mexico and a relocation in Frankfurt.

The company expects new store openings to contribute low to mid single-digit growth to the full-year retail revenue.

As at June 30, Burberry had 207 retail stores, 212 concessions, 50 outlets and 64 franchise stores globally.

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