Burberry names Bailey CEO as Ahrendts results in for Apple

The British fashion house said on Wed Ahrendts would step down by mid-2014 after which Bailey would be employed to the aspect of Main Impressive and Main Professional Formal.

Bailey has been at Burberry since 2001 and has held the major innovative aspect for six years.

Ahrendts will be a part of The the apple organization company to take up a lately created position as a older vice chair with management of The the apple organization company retail shop outlet and online stores. She will review straight to CEO Tim Prepare.

Burberry also said on Wed its retail shop outlet earnings improved 17 % to 694 million bodyweight ($1.11 billion) in the six months to September 30 - hit in line with analysts' forecasts.

The result compared with 577 million bodyweight in the same period last year, and a first 1 / 4 rise of 18 %.

Retail sales from stores open at least a year improved by 13 %, helped by dual variety growth in Asia Traditional and the Europe, Middle Southern, Native indian and African-american (EMEIA) division area and high single variety growth in the The country's.

Total earnings was 1.03 billion money dollars bodyweight, up 14 %.

Shares in Burberry, up 41 % over the last year, closed Friday at 1,585 pence, costs the business at 7 billion money dollars bodyweight.