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Burberry set for next phase of transformation

Luxury brand Burberry has said it is on track for its next phase of transformation as it posted its third quarter trading figures. In the three… View Article

FASHION

Burberry set for next phase of transformation

Luxury brand Burberry has said it is on track for its next phase of transformation as it posted its third quarter trading figures.

In the three months to 31 December, like-for-like sales rose by 2%. However, retail revenue edged down 2% to £719 million in the period but was up 1% on an underlying basis.

Burberry said like-for-like sales in its Asia Pacific region rose by a mid-single digit percentage, as did sales in mainland China.

Meanwhile, like-for-like sales in the EMEIA region fell by a low single digit percentage while sales in the Americas grew by a low single digit percentage, with US revenue broadly flat.

In November, Burberry laid out plans to drive its positioning further upmarket by changing its approach to its products, communications and customer experience.

Commenting on the recent trading, Marco Gobbetti, Burberry chief executive, said: “We are making good progress embedding our strategic vision into the organisation and remain on track to meet our full year profit target. We are building on strong foundations and are fully focussed on the successful delivery of our multi-year plan to position Burberry firmly in luxury and deliver long-term sustainable value.”

During the period, Burberry embarked on creative collaborations across events, social and other media with Adwoa Aboah, Blondey McCoy, Cara Delevingne, Danny Sangra, Ibrahim Kamara and Kris Wu.

 

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