Burberry sales boosted by US, Iran war hits Europe trade
- On Friday, London-listed Burberry reported retail revenues lifted 5% to £455 million for the quarter ending June 27, as Chief Executive Joshua Schulman expressed satisfaction with the Burberry Forward turnaround strategy.
- The business has refocused on its British heritage, shifting away from ultra-luxury lines as part of the turnaround launched in late 2024. Burberry recently began a two-year renovation of its Castleford facility in West Yorkshire to preserve traditional craftsmanship.
- Performance was bolstered by 12% growth in the Americas and a 9% rise in China, where Schulman noted strong demand from local shoppers and younger customers. Currency gains contributed an additional 1% to overall growth.
- Regionally, South Korea posted an 11% increase while Japan declined 2%. Sales in Europe, the Middle East, and Africa fell 3%, pressured by weaker tourism and geopolitical tensions including the Iran war.
- For the first time in three years, the brand saw growth across all major clothing divisions. Richard Hunter, Head of Markets at interactive investor, said new leadership has 'injected a breath of fresh air' into the brand's fortunes.
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Burberry presented a revenue of £455 million in its first fiscal quarter, closed in June, which represents a 5% increase in sales in comparable stores over the same period of the previous year. Exclusive subject matter for subscribers. To have full access, access the link of the subject and register.
US and Chinese customers keep Burberry on track - RetailDetail EU
Burberry continues its recovery thanks to strong growth in the United States and China. The British luxury group is benefiting from a renewed focus on trench coats, jackets, and scarves, even as the conflict in the Middle East is dampening tourist spending in Europe.
Burberry Group Plc’s sales grew across all its ranges for the first time in three years after completing the first stage of its turnaround, as investors shift their focus to the brand’s efforts to drive further profitability.
'A luxury brand with universal appeal': Burberry says turnaround strategy is working
Burberry has said its turnaround strategy is working, on the back of growth in North America and China, but spending in Europe has come under pressure amid the conflict in the Middle East.
Burberry revival gets a boost from China and US sales
Burberry has recorded a lift in sales across all its fashion lines for the first time in three years as a resurgence in the US and China helped ease a slowdown in spending brought on by the Iran war. The London-listed fashion label posted a five per cent rise in overall revenue in the three months to July, driven largely by a double-digit boost in the Americas and nine per cent jump in its all-important China market. Retail revenue rose from £43…
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