(Source: Luxury Brand Network * EXCLUSIVE *)

Burberry posted strong growth for its quarter ended 31 December, but reported weak U.S. performance and warned of softening numbers ahead.

Sales rose 36 percent in the Asia-Pacific region, 20 percent in Europe, just 4 percent in the Americas and 31 percent in the rest of the world on an underlying basis.

Retail sales were up 23 percent on a constant currency basis, or 13 percent on a comparable basis, Burberry said.

Asian consumers helped drive sales throughout the globe. Comparable store growth in China continued at around 30 percent, Burberry said. In addition, "The traveling luxury consumer drove outperformance of flagship markets such as London, Paris, Hong Kong and Las Vegas," the company said. Consumers in southern Europe have been more affected by the debt crisis than their northern European counterparts, added CFO Stacey Cartwright.

Burberry lowered its growth forecast for retail selling space to 14 percent in the second half, down from 15 percent. The company had "a couple of extra closures" of menswear concessions in Spain and overestimated space in some new stores.

Burberry management also issued a note of caution in the wholesale division, suggesting sales would slow to "mid-single digits" for the second half of its year.

(Posted 17 Jan 2012)