News released today from Burberry, via various portals, announces that the labels revenue fell by 4% for the three months to June 30th.
Reports say that whilst the cause is attributed to a 28% revenue drop in wholesale business, due to stockists buying less, retail sales as a whole are up 12%.
With the label showing its Prorsum womenswear line at Septembers London Fashion Week on September 22nd, Burberry’s return to the London stage should hopefully help sales pick up.
Further More, H&M have announced today also that sales have slowed by 5% in the UK and 4% worldwide during June. However, since the first grips of the economic crisis H&M has opened 227 new stores, up from 1600 since last June.