Readers like you keep news free for everyone.

More than 5,000 readers have already pitched in to keep free access to The Journal.

For the price of one cup of coffee each week you can help keep paywalls away.

Support us today
Not now

Luxury brand doing fine in recession

Burberry sees some nice profits in the first quarter of this year.

Burberry's classic trench. Photo: PA

LUXURY CLOTHING and accessories brand Burberry has reported a nice profit increase of 27% in Q1 of this year. Sales in the three months preceding June 30th rose to £291 million from last year’s £229 million.

Strong sales in Asia Pacific in particular pushed their performance above expectations, with retail Burberry’s sales overall up 21%. The brand plans to open up to 30 additional stores, mostly in the US and Asia, over the coming year.

It’s not all plain sailing for the brand, though. Despite strong sales results, the company’s stock fell 0.6% to 789.5 pence yesterday. The company is reportedly bracing itself for an internal battle over the pay level of is chief executive, Angela Ahrendt, the London Evening Standard reports. The company’s annual meeting is being held later this week and Ahrendt’s £6 million pay deal is expected to be questioned by shareholders.

Making a difference

A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article.

Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

For the price of one cup of coffee each week you can make sure we can keep reliable, meaningful news open to everyone regardless of their ability to pay.

Read next: