Burberry UK tourist boom boosted by pound's fall

Burberry UK tourist boom boosted by pound's fall

Iconic trench coat maker Burberry has credited the fall in the pound for driving up sales in its UK stores by almost a third.
The British fashion house said tourists increased spending power helped drive comparable European sales, which strip out new store openings, higher for the first time in over a year.
The firm, which makes just 15% of its sales in the UK, said the pound's fall would increase full year profit.
However Burberry said total sales fell.
The designer blamed the 4% drop in total sales to £1.16bn in the six months to the end of September on a fall in wholesale and licensing... read more

18 October 2016 in Business, Views: 32
Source: BBC

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