Burberry had a very strong finish to 2009 despite the weak economy. The Wall Street Journalreports that Burberry crushed analysts expectations with a 12% rise in total sales during the last three months of 2009.
The company reported a 12% rise in total sales on a constant currency basis to £380 million ($620.8 million) in the three months to Dec. 31, with same-store sales at its network of retail stores up 10%, smashing analysts' forecasts for a rise of 3%. Including new store openings, total retail sales at constant currency increased 16%, again outperforming analyst expectations for an 11% increase.
Tight stock control at its retail stores and strong full-price sales of the groups autumn/winter collection mean there will be fewer clearance sales in the current fourth quarter, which will impact sales but benefit margins.
Wholesale revenue, which comes from department stores that stock the group's iconic red, black and camel-colored check design, rose 5% at constant currency, compared with market expectations of a 16% decline.
Another WSJstory says strong trenchcoat and handbag sales helped the luxury fashion group. Marketwatch reports that Burberry's performance "remains ahead of the luxury goods pack."
Burberry had a very strong finish to 2009 despite the weak economy. The Wall Street Journal 
