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Burberry to Expand Stores 25% on Strong Profits

Luxury goods company Burberry Group says sales rose by 17 percent in the first half of its financial year, and it expects a full-year profit near the top of market expectations.

The company said Wednesday that retail revenue was up 20 percent on a comparable basis — when excluding new store space — and wholesale revenue rose 17 percent, although licensing revenue was down 3 percent in the six months ending Sept. 30.

The company says in its trading update that it expects to increase its selling space by 25 percent in the second half of the year. Wednesday’s update did not report profit figures.

LONDON (AP)

In this Tuesday, Sept. 21, 2010 file photo, a model presents an outfit by Burberry Prorsum from their Spring/Summer 2011 collections at London Fashion Week, in London. (AP Photo/Alastair Grant, File)

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