Burberry Sales Advance as Americas Compensate for Hong Kong Fall

LONDON, United Kingdom — Burberry Group Plc, the British maker of $1,895 trench coats, said second-half sales gained 10 percent as growth in the Americas made up for for a decline in Hong Kong.

Revenue rose to 1.42 billion pounds ($2.1 billion) in the six months through March, London-based Burberry said in a statement Wednesday. That compares with the 1.43 billion-pound median of analyst estimates compiled by Bloomberg.

Sales in Burberry’s own stores gained 9 percent on a comparable basis, which Burberry attributed to strong domestic and tourist demand in Europe and the Americas. Asia Pacific growth was held back by Hong Kong, where comparable sales fell by a mid-single digit percentage in the wake of protests in the city and as China’s clampdown on graft extends beyond the mainland.

"We anticipate external challenges will continue in the current year, but remain confident in our long-term strategy to build the Burberry brand and business globally," chief creative and executive officer Christopher Bailey said in the statement.

The shares rose 0.3 percent 1,784 pence in London on Tuesday, extending their gain this year to 9 percent.

By Andrew Roberts; editors: Matthew Boyle, James Boxell, Robert Valpuesta.