Burberry retail revenue up 5% but EMEIA sales decline
Burberry has increased it first quarter retail revenue by 5% to £455 million after delivering growth across its womenswear, menswear, accessories and childrenswear divisions for the first time in three years.
In the 13 weeks to 27 June, comparable retail sales also rose by 5%, with growth of 12% in the Americas, 9% in Greater China and 3% in Asia Pacific.
Subscribe to TRBHowever, revenue in the EMEIA region declined by 3% during the period due to the ongoing impact of the conflict in the Middle East and weaker tourist spending. Excluding the Middle East, EMEIA sales were down 1%.
Burberry said its brand momentum continued to drive sales, with its ‘Portraits of an Icon’ campaign attracting new customers, particularly to its rainwear range. Demand was also strong for lightweight jackets and seasonal products.
Meanwhile, ecommerce sales increased by a mid-teens percentage during the quarter.
Joshua Schulman, chief executive of Burberry, said: “I am pleased with our progress in the first quarter and the momentum we are building with Burberry Forward.
“For the first time in three years , we saw growth across our womenswear, menswear, accessories and childrenswear divisions, anchored by the outperformance of outerwear. Our strategy is working.”
Looking ahead, Burberry said it expects to make further progress in delivering revenue growth and margin expansion, in line with market expectations, while remaining mindful of the uncertain geopolitical and macroeconomic environment and its potential impact on consumer confidence.
Schulman said: “We are attracting a broad range of luxury customers across product categories, channels and geographies , reinforcing my confidence in the opportunities ahead.”
