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Burberry Licensing Revenues Fall as Business Restructures

Luxury U.K. brand Burberry has reported licensing revenues down by 8 percent as underlying revenue rose by 9 percent in the three months to Dec. 31.The business is cutting 290 jobs in the U.K. as it restructures manufacturing, and is restructuring its Spa

April 6, 2018

1 Min Read

Luxury U.K. brand Burberry has reported licensing revenues down by 8 percent as underlying revenue rose by 9 percent in the three months to Dec. 31.

The business is cutting 290 jobs in the U.K. as it restructures manufacturing, and is restructuring its Spanish business with the closure of the Thomas Burberry brand, with the potential loss of 250 jobs.

Burberry said that full-year licensing revenues were likely to be down by a high single-digit percentage, due to softening demand in Japan. The weak Japanese market was partly offset by growth from global product licenses, especially watches, Burberry said.

Retail revenue was up by 12 percent in the period, with like-for-like sales down by 3 percent. Wholesale revenues were up by 8 percent.

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