Burberry boosted by handbag sales

Burberry, the luxury goods group, has beat second quarter revenue forecasts reporting strong sales for handbags and leather goods.

Burberry

It has recorded revenue of 5% to £343m in the three months to 30 September, ahead of analysts’ forecast of between £20m to £335m.

While revenue fell by 31% in Spain, the company reported gains in other regions.

Burberry has managed to weather the storm of the recession while other luxury goods brands have suffered. It has enforced several cost cutting measures including reviewing stock, ranges and cutting jobs.

The group has 122 retail outlets, 255 concessions, 90 franchise stores and an e-commerce business in over 25 countries. It says it plans to open 15 mainline stores over the full year.

In August, Burberry appointed Bartle Bogle Hegarty (BBH) as its strategic marketing partner.

The agency overseas all marketing strategy for the fashion brand and has been tasked with integrating its global communication with customers, focusing on its digital and social media activity.

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