ASBurberry today announces a 9 per cent rise to 329 million in underlying sales for the three months to December 31, the group has unveiled a series of dramatic initiatives - such as axing its underperforming Thomas Burberry line - to help buoy it through the economic downturn. A slow down in Christmas trade saw like-for-like sales fall 3 per cent during the period, while licensing revenue fell 8 per cent - although retail revenue for the company as a whole climbed 12 per cent, to 95 million, and wholesale, 8 per cent. The upshot of the performance has prompted the group to implement a series of "cost efficiencies", which will see 290 jobs cut in the UK as the label closes its sewing factory in Rotherham, Yorkshire, and aims to save around 50 million by shuttering its Thomas Burberry line - putting a further 250 jobs in Spain in question. Isabel Marant Revenue at Burberry increased by 9 per cent at constant currency in what remained challenging and volatile markets. There was an improved retail performance in December, albeit with continuing pressure on gross margin," noted Burberry ceo Angela Ahrendts. "As we continue to evolve our business model, we have today announced further cost efficiencies. These are enabled in part by the investments we have previously made in supply chain, IT and infrastructure. These savings, coupled with our proven strategies, Read more strong brand perception and conservative balance sheet position us to trade through the current difficult environment and emerge even stronger when the global economy recovers. The news comes just two days after creative directorChristopher Bailey presented a well-received menswear collection for autumn/winter 2009-10 in Milan. The group's chief financial officer Stacey Cartwright added that, in plainer terms, while customers were still willing to spend on classic items such as the Burberry trench or a luxury handbag, there were simply fewer of them coming through the doors. It's not a pricing question in the current climate," she tells today's Daily Telegraph. "It's footfall, and that consumers are cutting back on the amount they buy.
|
Author : isabel marant online,isabel marant sale,isabel marant online |
Views : 75 |
|
|
|
|
This Blog Has Been PowerShared™ Successfully! |
|
|
Check out Lyl833's Profile, and Blogs! |
|