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Article: BURBERRY'S OPERATING NET JUMPS 103 PERCENT IN YEAR.(Brief Article)
- Article from:
- WWD
- Article date:
- June 9, 2000
- Author:
CopyrightCOPYRIGHT 2000 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LONDON -- Burberry's numbers are finally as hot as its plaid.
The British brand, which is undergoing a revamp under chief executive Rose Marie Bravo, Thursday reported a 103 percent increase in operating earnings, to $32.9 million, on an 11 percent rise in sales, to $349.3 million, for the year ended March 31. This compares with operating profits of $16.3 million on sales of $314.5 million a year earlier. (Dollar figures have been converted at current exchange.)
The results are the best at Burberry since the arrival of Bravo three years ago. The company, a subsidiary of Great Universal Stores PLC, suffered badly from the economic downturn in the Far ...