Burberry, the luxury fashion firm based in the UK, said a 14% increase in retail revenue was offset by a 23% decline in wholesale revenue in the first six months of the year. Overall, the company posted a 5% drop in first-half revenue. "During the period, we achieved further strategic progress, highlighted by good non-apparel growth, the strengthening of our position in Japan and continued brand investment, as demonstrated by Burberry's return to London Fashion Week," Burberry CEO Angela Ahrendts said.

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