THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Burberry Q1 performance impacted by China lockdowns

Luxury fashion brand Burberry has increased its first quarter comparable store sales by just 1% after trading was impacted by Covid-19 lockdowns in mainland China. When… View Article

FASHION

Burberry Q1 performance impacted by China lockdowns

Luxury fashion brand Burberry has increased its first quarter comparable store sales by just 1% after trading was impacted by Covid-19 lockdowns in mainland China.

When sales in the country were excluded, there was an uplift 16%. In contrast, comparable store sales in Burberry’s EMEIA region rose by 47%.

Jonathan Akeroyd, chief executive of Burberry, said: “Our performance in the quarter continued to be impacted by lockdowns in mainland China but I was pleased to see our more localised approach drive recovery in EMEIA, where spending by local clients was above pre-pandemic levels.”

During the 13-week period ending 2 July, Burberry enjoyed double-digit growth in sales of leather goods and outerwear outside mainland China, with its Lola handbag range being particularly popular. The rainwear and jacket categories also performed well.

Looking ahead, Burberry said it is continuing to aim for high-single digit revenue growth and 20% margins in the medium term. It also revealed that its performance in mainland China has been encouraging since stores reopened in June.

Akeroyd added: “Our focus categories, leather goods and outerwear continued to perform well outside of Mainland China and our programme of brand activations boosted customer engagement. While the current macro-economic environment creates some near-term uncertainty, we are confident we can build on our platform for growth.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News