Burberry Reports Higher Quarterly Sales, Chair to Retire
Greater China and the Americas each rose 10% in the fourth quarter, helping Burberry return to profitable comparable sales growth, the company said.
- On Thursday, May 14, 2026, Burberry reported a pre-tax profit of £49 million for the fiscal year ending March 28, reversing the previous year's £66 million loss, driven by a better-than-expected 5% fourth-quarter sales jump.
- CEO Joshua Schulman credited the turnaround to the 'Burberry Forward' strategy, which revived heritage items like trench coats while delivering £100 million in annual cost savings, marking a 'meaningful inflection point' for the brand.
- Sales in the Americas and Greater China surged 10% in the fourth quarter, while the Europe, Middle East, India and Africa region fell 2%, as the company cited conflict disruption for the decline.
- Chair Gerry Murphy will retire in November, the company announced, with William Jackson, founder of Bridgepoint Group, set to succeed him as leadership navigates the luxury market's recovery.
- Despite the recovery, Burberry remains 'mindful of the uncertain geopolitical and macro-economic environment,' as global travel disruption and energy costs continue to challenge the $400 billion luxury sector this year.
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Evening Standard
Burberry returns to profit as turnaround bears fruit
The firm reported annual pre-tax profits of £49 million against losses of £66 million the previous year.
Burberry's sales hit by Iran war-driven tourism slump
Burberry has today reported higher fourth-quarter sales as the British luxury brand's turnaround gathered pace in the US and China, but the Iran war and weaker tourism dented revenue in its core Europe and Middle East region.
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