Burberry trading boosted by popularity of new collections
Luxury brand Burberry has seen its like-for-like store sales climb by 4% in its first quarter.
The company attributed much of the growth to the popularity of chief designer Riccardo Tisci’s new collections. Burberry said the ranges delivered strong double-digit percentage growth compared to the equivalent collections in the prior year.
In the 13 weeks to 29 June, sales in Burberry’s Asia Pacific region grew by a high single-digit percentage as the brand benefited “mid-teens” growth in mainland China.
Meanwhile, sales in the EMEIA region were up by a low-single digit percentage with the growth supported by tourist spend.
In contrast, sales in the Americas were flat due to the impact of a later markdown period in Canada.
Burberry is currently working through the second year of a transformation plan as it looks to take the brand further upmarket by changing its approach to products, communications and the customer experience.
Marco Gobbetti, Burberry chief executive, said: “This was a good quarter in our multi-year journey to transform Burberry. We increased the availability of products designed by Riccardo, while continuing to shift consumer perceptions of our brand and align our network to our new creative vision. The consumer response was very promising, delivering strong growth in our new collections. We are on track with our plans and we confirm our outlook for FY 2020.”
