Burberry comparable store sales down 9%
Burberry saw its retail comparable store sales decline by 9% in its third quarter after trading was hit by reduced tourist traffic in-store and shop closures due to Covid-19.
In the 13 weeks to 26 December, comparable store sales in Burberry’s EMEIA region fell by 37%, although sales in the Asia Pacific region rose by 11% due to strong growth in China and Korea.
Burberry said its digital channel has been a key driver of growth during the pandemic and that online innovations such as pop-ups and local activations supported more than 50% of full-price growth in the channel. Full price sales growth was also driven by a new, younger clientele as well as repeat customers.
Marco Gobbetti, Burberry chief executive, said: “Despite the challenging external environment, we made good progress on our strategic priorities in the quarter. We saw a strong increase in full-price sales as our collections and communication resonated well with new, younger clientele as well as existing customers. Our localised plans and digital capabilities helped drive growth in rebounding markets and we implemented our planned reduction in markdown. While the short-term outlook remains uncertain due to Covid-19, we are well placed to accelerate when the pandemic eases.”
