British fashion house Burberry has enjoyed a successful first quarter ended 30 June, with revenues up 9 per cent. Chief Executive Rose Marie Bravo commented on the results in a statement: "Burberry has had a successful first quarter. We largely completed the seasonal transition of our stores and are encouraged by the initial consumer response to autumn/winter merchandise. At the same time, Burberry continued to strengthen the brand's presence in Asia by finalising terms for the acquisition of our distributors in Taiwan."

Bravo, hired in 1997 from Macy's and Saks Fifth Avenue, is responsible for reviving the old-fashion brand and giving it a new, comtemporary image. The classic camel, red and black check suddenly featured on bikinis and inside pink raincoats, spicing up its musty Victorian image to no end.

Retail sales, which account for approximately 53 per cent of Burberry's first quarter revenues, climbed 9 per cent. Bravo said the hike in sales was due to "contributions from newly opened and refurbished stores and marginal gains at existing stores." Year-on-year average retail selling space increased by about 8 per cent in the first quarter. The company said it remains on schedule to increase the retail selling space this year by about 8 per cent this fiscal year.

Retail sale were especially strong in the US, Hong Kong and Southeast Asia and Continental Europe, while the UK remained soft. Sales in Korea remained volatile due to the difficult retail climate, which led to a small decline in the quarter.

Meanwhile wholesale revenues increased 5 per cent underlying. Not including the effect of the Taiwan Acquisition, the company expects first half wholesale sales to remain broadly flat relative to the previous year. Licensing revenues increased 26 per cent on an underlying basis, 28 per cent reported. Burberry says it continues to anticipate moderate licensing revenue growth for the full fiscal year.