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Burberry sales continue to flatter

Angela Ahrendts at a show with, from left, Emma Watson, Gwyneth Paltrow and Mario Testino. Picture: Getty

Angela Ahrendts at a show with, from left, Emma Watson, Gwyneth Paltrow and Mario Testino. Picture: Getty

Burberry chief executive Angela Ahrendts is set to leave the luxury goods group on a high after seeing no let-up in demand from Chinese consumers.

Ahrendts, who is due to step down in the summer for a job at Apple, yesterday revealed a 13 per cent rise in retail revenues to £928 million for the six months to 31 March, with demand for the British firm’s handbags and scarves in China and Korea particularly strong.

The update ahead of full-year results on 21 May was partially overshadowed by the company’s warning on the strength of the pound, which is likely to have a “material” impact on profits in the current financial year.

Based on trading in 2014, Burberry said currency exchange rate movements would reduce profits in retail and wholesale trading by about £30m.

Ahrendts, who has been with the group for seven years, will be succeeded by Yorkshire-born chief creative officer Christopher Bailey.

The 158-year-old business, which is based in London, has 215 retail stores, 227 concessions, 55 outlets and 70 franchise stores.

 

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