Burberry boosted by “excellent” response to new collections

18 July 2019

Burberry boosted by “excellent” response to new collections

Luxury fashion brand Burberry has reported a strong start to its financial year thanks to an "excellent consumer response" to chief creative officer Riccardo Tisci's new collections.

The company has reported retail revenues of £498m for the 13 weeks ended 29 June 2019, up from £479m in the same period of 2018.

Burberry said there had been an "excellent consumer response" to Riccardo Tisci's new collections, which achieved strong double-digit percentage growth compared to prior year equivalent collections.

Comparable store sales were also up 4 per cent, with growth led by new products.

The company's Europe, Middle East, India and Africa (EMEIA) sales grew by a low-single digit percentage supported by tourist spend, which particularly benefited the UK.

Asia Pacific sales grew by a high single-digit percentage, driven by growth from Mainland China. Sales in the Americas were flat; the US grew by a low-single digit percentage but Canada was negatively impacted by a later markdown period.

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."

Burberry has manufacturing operations in Castleford and Keighley, as well as a shared services centre in Leeds.