Markets have been nervously anticipating the first fiscal quarter figures for the British design house, as they are the first without Ahrendts at the helm. Burberry Group Plc, the U.K.’s largest luxury-goods maker, reported first-quarter revenue that beat estimates as digital marketing initiatives drove sales of apparel and accessories in Asia and the Americas. Retail revenue rose 9 percent to 370 million pounds ($635 million) in the three months through June, London-based Burberry said today in a statement. Analysts predicted 354 million pounds, according to the median of 15 estimates.
“We remain confident of delivering sustainable, profitable growth into the future,” Christopher Bailey, Burberry creative head and chief executive officer, said in the statement. Bailey, who added the CEO’s role in May, faces investor opposition to his proposed 10.3 million-pound pay package, plus stock awards. The Investment Management Association has issued its second-most serious alert on Burberry’s pay policies ahead of tomorrow’s annual general meeting, an IMA spokeswoman said. Total comparable sales increased 12 percent, Burberry said.