Burberry posts first quarterly sales rise in two years
- Burberry said Thursday that second-quarter comparable store sales rose 2%, the first increase in two years, beating market expectations of 1%.
- Since Schulman joined in 2024, he said `my belief in this extraordinary British luxury house is stronger than ever` and has refocused Burberry under the 'Burberry Forward' strategy.
- On a six-month basis, adjusted operating profit rose to 19 million pounds, reversing a loss of 41 million pounds last year, while first-half revenue was 1.03 billion pounds.
- Investors pushed the share price up more than 4 percent to 13.06 pounds at 9:00 a.m. GMT, and Luca Solca, luxury analyst at Bernstein, said sales and profits exceeded expectations, noting Burberry is "slowly but surely moving in the right direction."
- Burberry has also announced proposed job cuts, about 1,700 worldwide, and a £48 million cost-cutting programme, with the next test being momentum through the festive trading period and into 2026-27.
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Burberry posts first quarterly sales rise in two years
Burberry has today reported a 2% rise in its second-quarter comparable store sales, beating market expectations, as the British luxury retailer's turnaround measures start to bear fruit and its China business returned to growth.
Burberry returns to growth in China
Burberry reported its first increase in quarterly sales for nearly two years and a return to growth in China, as the British luxury goods retailer begins to reap the benefits of its “back to basics” approach, reports the Financial Times. The FTSE 100 company, famed for its check-patterned coats, said sales at stores that had […]
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