By George MacDonald2019-11-14T07:38:00
Burberry has said its new strategy is “on track” despite being affected by the civil unrest in Hong Kong.
The luxury fashion giant reported a pro forma adjusted operating profit of £187m, down 4% at constant exchange rates, in the half-year to September 28.
Revenues rose 3% to £1.28m and comparable store sales were up 4%, helped by new collections.
Burberry maintained guidance for “broadly stable top-line and adjusted operating margin, despite incremental pressure on gross margin from the disruptions in Hong Kong” and product mix.
Burberry is in the middle of the second year of a transformation plan spearheaded by chief executive Marco Gobbetti.
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