Reuters: Technology News: Burberry names Bailey CEO as Ahrendts quits for Apple

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Got an anatomy exam soon? Use the most efficient tool to learn anatomy and be prepared for your next exam like no one else. Make your anatomy learning experience an unforgettable one. From our sponsors

Burberry names Bailey CEO as Ahrendts quits for Apple Oct 15th 2013, 06:35 Tweet Share this Email Print Reprints Burberry CEO Angela Ahrendts leads a discussion at the IHT Heritage Luxury conference in London November 9, 2010. Credit: Reuters/Paul Hackett LONDON | Tue Oct 15, 2013 2:35am EDT LONDON (Reuters) - Burberry Group said its chief creative officer Christopher Bailey would become chief executive, following the departure of long-standing boss Angela Ahrendts to Apple. The British fashion house said on Tuesday Ahrendts would step down by mid-2014 after which Bailey would be appointed to the role of Chief Creative and Chief Executive Officer. Bailey has been at Burberry since 2001 and has held the major creative role for six years. Ahrendts will join Apple to take up a newly created position as a senior vice president with oversight of Apple retail and online stores. She will report directly to CEO Tim Cook. Burberry also said on Tuesday its retail revenue rose 17 percent to 694 million pounds ($1.11 billion) in the six months to September 30 - bang in line with analysts' forecasts. The outcome compared with 577 million pounds in the same period last year, and a first quarter rise of 18 percent. Retail sales from stores open at least a year grew by 13 percent, helped by double digit growth in Asia Pacific and the Europe, Middle East, India and Africa (EMEIA) division region and high single digit growth in the Americas. Total revenue was 1.03 billion pounds, up 14 percent. Shares in Burberry, up 41 percent over the last year, closed Monday at 1,585 pence, valuing the business at 7 billion pounds. (Reporting by James Davey; editing by Kate Holton) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions