Hong Kong protests hit Burberry but new design chief performing well

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"1">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p>Huge protests in Hong Kong have hit British fashion label Burberry due to the disruption in the area&comma; although this was offset by a boost in sales on mainland China&comma; the company said&period;<&sol;p>&NewLine;<p>Bosses at the retailer also revealed that the weak pound has helped sales in the UK&comma; with foreign tourists taking advantage of the lower prices and splashing out on the latest fashions&period;<&sol;p>&NewLine;<p>The business also hailed Riccardo Tisci’s new collections as a huge success&comma; as the designs from the new chief creative officer filter through to the shop floor&period;<&sol;p>&NewLine;<p>The Italian designer joined Burberry a year ago but – with long lead times – his products are only now starting to fully hit stores&period;<&sol;p>&NewLine;<p>Chief financial officer Julie Brown said more than 50&percnt; of stock is now Mr Tisci’s designs&comma; compared with March this year&period;<&sol;p>&NewLine;<p>She also revealed that £170 black leather sleeves released as a limited edition B Series drop sold out in just 20 minutes&period;<&sol;p>&NewLine;<p>On the demonstrations in Hong Kong&comma; which have seen millions take to the streets in largely peaceful protests&comma; she said&colon; <em>&OpenCurlyDoubleQuote;We did see an impact from the protest&period; Our stores were impacted and this did contribute to a softer impact in the quarter&period; It’s not material at a group level but certainly at a local Hong Kong level&period;”<&sol;em><&sol;p>&NewLine;<p>Further details were not revealed&period;<&sol;p>&NewLine;<p>Ms Brown also reiterated that a no-deal Brexit would &OpenCurlyDoubleQuote;materially impact” the business in the short term&comma; particularly with shipments of products in and out of the UK&comma; and is holding regular planning meetings to mitigate the impact&period;<&sol;p>&NewLine;<p>But she was pleased with the overall performance of the retailer&comma; revealing sales for the 13 weeks to June 29 rose to £498m compared with £479m during the same period a year ago&period;<&sol;p>&NewLine;<p>The Asia Pacific market was the strongest&comma; with &OpenCurlyDoubleQuote;high single-digit” growth driven by mainland China&comma; followed by &OpenCurlyDoubleQuote;low single-digit” growth in Europe&comma; the Middle East&comma; India and Africa – driven by the UK and the weak pound&period;<&sol;p>&NewLine;<p>Sales of accessories fell&comma; but Ms Brown was particularly positive of the company’s dedication to handbags&period; She said&colon; <em>&OpenCurlyDoubleQuote;We’re building out the architecture of bags&period;”<&sol;em><&sol;p>&NewLine;<p>The finance chief added that 23 stores have been &OpenCurlyDoubleQuote;aligned to the new vision” for Burberry&comma; which includes plenty of the new products designed by Mr Tisci&comma; and 80 stores will be &OpenCurlyDoubleQuote;aligned” by the end of the year&period;<&sol;p>&NewLine;<p>Nine stores were closed during the period – as part of plans to close 38 stores – but Ms Brown declined to reveal the locations&comma; beyond saying they were mainly in the Asia Pacific region&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68eceaf6f3cc1">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; function &lpar;&rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; false &equals;&equals;&equals; &lpar; window&period;isWatlV1 &quest;&quest; false &rpar; &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&sol;&sol; Use Aditude scripts&period;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings &equals; window&period;tudeMappings &vert;&vert; &lbrack;&rsqb;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;tudeMappings&period;push&lpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;divId&colon; 'atatags-dynamic-belowpost-68eceaf6f3cc1'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;format&colon; 'belowpost'&comma;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;if &lpar; document&period;readyState &equals;&equals;&equals; 'loading' &rpar; &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;document&period;addEventListener&lpar; 'DOMContentLoaded'&comma; window&period;getAdSnippetCallback &rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub; else &lbrace;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback&lpar;&rpar;&semi;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&rcub;&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<&sol;script>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>


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