Burberry sales rise 12% under Bailey

Burberry sales rose 12 percent in the first quarter under the new leadership of Christopher Bailey.

Bailey took over as CEO for Angela Ahrendts in May, when she left to take on the role of senior VP of retail and online stores for Apple (NASDAQ:AAPL).

"This first quarter performance reflects our focus on striving to give customers the best possible experience of the Burberry brand through ongoing investment in retail, digital and service, both on and offline," Bailey said in a statement.

The company is predicting that retail revenue will grow in the low- to mid-single digit range in fiscal 2015.

It seems, however, that there is unrest between the new CEO and the company shareholders, according to the Telegraph. Investors are not pleased with the package Bailey received upon his appointment, which included a hefty bonus over his basic salary, not to mention the one-off award of 500,000 shares.

Burberry's recent upswing shows that luxury brands are alive and well. Luxury retailer Bergdorf Goodman recently remodeled its men's department and began a new online initiative that included an Instagram account for menswear, and Michael Kors is on track to open 45 North American stores in fiscal 2015.

For more:
-See this Telegraph article
-See this Burberry press release

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