Thursday, 21 January 2010

Burberry Celebrates 15 Percent Increase In Third-Quarter Profit – 21/1/10

Burberry has joined Tiffany & Co. and Richemont in celebrating better-than-expected sales, with WWD reporting a 15.5 percent increase in third-quarter revenue for the British luxury brand.

The company also said it is anticipating improved wholesale results for the second half. They are projecting wholesale sales to be down 10 to 12 percent, rather than 15 percent.

A Bloomberg report also revealed that Burberry shares surged 8.3 percent, to the highest level in more than two years after the announcement.

To read more about Richemont’s 2 percent increase in sales, see the MO Down for January 20. And for details on the profit outlook for Tiffany & Co., see January 15.

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Who's behind the MO DOWN

Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,