Blog: What next for Burberry?
Joe Ayling | 27 May 2011
The boss of Burberry hailed an "historic" fiscal year for the company this week, going on to say there was more to come.
The luxury goods firm has posted a 38% increase in profit before tax, to GBP296m, and pledged to invest extra money into its thriving retail stores.
Burberry saw its sales boom in Asia, where the company has recently acquired its Chinese operations, while stores in well-established markets including to UK are also getting a makeover.
"We believe we can do a lot more this year and get a significant return on investment," Burberry CEO Angela Ahrendts vows in the You Tube clip below.
It will be some investment too, with capital expenditure for the forthcoming year planned at GBP180-200m, compared with GBP108m last year. Investments will be made to accelerate new space growth to 12-13% and on 15-20 major store renovations.
All in all, it seems the time has come for Burberry to indulge itself.
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