Burberry first quarter sales up 3%
Luxury brand Burberry saw its comparable sales climb by 3% in its first quarter as customers responded well to its “more complete wardrobe” offer.
In the 13 weeks to 30 June sales grew in the Asia Pacific region and the Americas but declined in Burberry’s EMEIA region. In a statement, the company said its market in the UK and continental Europe had suffered due to “softer” tourist demand.
During the period Burberry invested in key markets. This included the relocation and expansion of its flagship store in Dubai and the opening of pop-up stores in Beijing, Dubai, New York and Seoul to showcase its new handbags.
Burberry said its newly launched Belt and D-ring handbags had been well received by customers. It also revealed that its collaboration with Farfetch is performing ahead of expectations.
Earlier this year Riccardo Tisci joined Burberry as its new chief creative officer to succeed Christopher Bailey.
Commenting on the first quarter performance, Marco Gobbetti, Burberry chief executive, said: “We are pleased with our progress in the quarter. The team has embraced Riccardo’s creative vision and is working well together as we prepare for his debut collection in September, the next step in our journey. While we know it will take time to achieve our ambitions, our progress to-date and the energy in and around the company give me confidence for the future.”
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