The average time for BURBERRY ITALY RETAIL LIMITED to pay invoices has increased over the past three periods. In the first period (Apr 2018 - Sep 2018), the average time to pay was 23 days, then it increased to 26 days in the second period (Oct 2018 - Mar 2019), and further increased to 31 days in the third period (Apr 2019 - Sep 2019).
The company's volatility in paying invoices has also increased over the three periods. In the first period, 74% of invoices were paid within 30 days, but this percentage decreased to 69% in the second period, and further decreased to 60% in the third period. Similarly, the percentage of invoices paid between 31 and 60 days increased from 25% in the first period to 28% in the second period, and then to 35% in the third period. The percentage of invoices paid later than 60 days also increased from 1% in the first period to 3% in the second period, and then to 5% in the third period.
Between Apr 2018 and Sep 2019, there has been a gradual increase in the average time for BURBERRY ITALY RETAIL LIMITED to pay invoices. The percentage of invoices paid within 30 days has decreased from 74% to 60%, while the percentage of invoices paid later than 60 days has increased from 1% to 5%.
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Apr 2018 - 29 Sept 2018 | 26 Oct 2018 | 23 | 74% | 25% | 1% | 25% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Other than in exceptional circumstances, Burberry’s standard payment terms are 30 or 60 days from the date of receipt of a valid invoice.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
Disputes can be raised by suppliers to Burberry by emailing the UK accounts payable mailbox Uk.Accountspayable@burberry.com
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
BURBERRY ITALY RETAIL LIMITED is a converted / closed converted/closed company, incorporated on 29 January 2002, based in the London region. Registered business activity: Retail sale of clothing in specialised stores.
From Companies House records.