Burberry on Wednesday announced total revenue increased 30% on an underlying basis. The brand's retail sales rose 25% driven by new and existing stores. Commenting on the trading results, Burberry CEO Angela Ahrendts stated: "The year is off to a good start. Our key strategies continue to drive strong retail performance and we are pleased that these retail-oriented initiatives are benefiting wholesale partners as well. Results for the quarter are consistent with our expectations for the full financial year."

Retail sales accounted for approximately 58% of total reported revenue in the quarter. Comparable store sales increased 9%, against a strong prior year comparison. Average selling space increased approximately 14%. During the quarter, Burberry opened four stores, in Antwerp, Bologna, Puerto Banus and Tampa. The Group opened a net six concessions, including those in Italy, Spain, Singapore and the UK, and three outlet stores.

Wholesale sales accounted for approximately 33% of total reported revenue in the quarter and increased 51% underlying. In advance of the planned 2008 headquarters relocation, Burberry completed the sale of its central London building during the quarter. Inclusive of one-time costs associated with the move, the Group expects to record a net pre-tax gain of approximately £15 million associated with the transaction in the 2007/08 financial year.