Burberry’s First-Half Profits Dropped 27.5 Percent, But It’s Okay

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Photo: Francis Dean/Corbis

The brand brought in £85 million ($134.3 million); the decline was "due to exceptional items including the early termination of its fragrance license with Inter Parfums SA, and despite a 6.4 percent rise in revenue to 882.5 million pounds, or $1.39 billion," WWD writes. And Burberry's "adjusted profits before taxes" were better than analysts thought they'd be. Basically, according to Intel Kevin, who kindly translated this 01101011001101 stuff for the Cut, it "would have been a good half of the year except for that license ending."