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Burberry posts revenue and profit uplifts despite ‘challenging external environment’

Luxury fashion brand Burberry has posted a 23% rise in full year revenue to £2.83 billion as it increased its adjusted operating profit ahead of guidance… View Article

FASHION

Burberry posts revenue and profit uplifts despite ‘challenging external environment’

Luxury fashion brand Burberry has posted a 23% rise in full year revenue to £2.83 billion as it increased its adjusted operating profit ahead of guidance with growth of 38% to £523 million. 

The brand continued to invest in its outerwear and leather goods categories in the year which led to a strong uplift in full-price sales.

It also introduced a new store concept, which Burberry said is transforming how customers experience its brand and product.

Jonathan Akeroyd, Burberry’s recently appointed chief executive, said: “Burberry is a unique British company with an extraordinary history and heritage and it is a privilege to take the reins in this next phase. The company has made great progress over the last five years to elevate the brand, product and customer experience into the luxury space. I look forward to setting out my plans for building on these strong foundations and accelerating growth at the interim results in November.

Looking ahead, Burberry said it is maintaining its guidance of high single-digit revenue growth in the medium-term, although its outlook is dependent on the impact of Covid-19 and rate of recovery in consumer spending in mainland China.  

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