Burberry’s first-half sales have broken the £1bn mark for the first time despite the brand reporting flat profits.
The luxury brand reported a 17% rise in sales to £1.03bn in the six months to September 30.
Pre-tax profit edged up to £174m from £173m the prior year.
The results were the first posted since it was revealed last month that Christopher Bailey will replace chief executive Angela Ahrendts next year while retaining his chief creative officer role.
Ahrendts said: “We are proud to announce a first-half performance that saw Burberry’s revenue exceed £1bn for the first time, reflecting the continuing strength of our global brand momentum.
“We remain focused on executing our retail, digital and marketing strategies in the all-important third quarter and in what remains an uncertain macro environment.
“The senior team continues to balance brand-appropriate revenue growth, selective investment and infrastructure efficiencies to drive sustainable profit growth across the portfolio, especially with the significant long-term potential of our fifth product division, beauty.”
Burberry revealed it will “streamline” the structure of the team that currently sits under Bailey and Ahrendts. The management team will be organised into three “pillars”; design, product and communication; regions; and operations and finance over the following months.
Bailey revealed that he has created a new role of chief design officer promoting Luc Goidadin – who has been at Burberry for 12 years - to the post. Goidadin will help support Bailey in his creative responsibilities.
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