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Burberry sales return to pre-Covid 19 levels

Burberry has said it has seen a strong recovery in the first quarter of its financial year with comparable store sales now in line with pre-Covid-19… View Article

FASHION

Burberry sales return to pre-Covid 19 levels

Burberry has said it has seen a strong recovery in the first quarter of its financial year with comparable store sales now in line with pre-Covid-19 trading.

In the 13 weeks to 26 June, retail revenue rose by 86% to £479 million while comparable store sales increased by 90% on the same period  last year and by 1% on two years ago.

The company said new product collections helped to attract customers and that its leather, outerwear and footwear categories performed particularly well. It also sold more full price items and reduced its amount of markdown and outlet sales.

During the period, Burberry engaged with shoppers in-store through activations such as a programme of 70 leather goods pop-ups and pop-ins in high visibility locations. It also began rolling out a new store concept aimed at transforming how customers experience the brand.

Marco Gobbetti, Burberry chief executive, said: “We have made an excellent start to the new fiscal year. Full-price sales accelerated as our collections and campaigns attracted new, younger luxury customers to the brand.

“Despite the continuing challenging external environment, we are very pleased with the progress against our strategy. With the company firmly set on a path of growth and acceleration, we are confident of achieving our medium-term goals”

Comparing its international performance with pre-Covid levels, Burberry said sales in the quarter were up 7% in the Asia Pacific region and by 34% in the Americas. However, sales in Burberry’s EMEIA region were down 38%.

Online sales were very strong after the company introduced several pilots to strengthen the integration between its offline and online channels.

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