US EditionBurberry 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.
21:54 British luxury raincoat maker Burberry has posted its first quarter of revenue growth in two years. A year and a half after his arrival, the strategy of American CEO Jos...
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