• Burberry sales and profits Grow
Following its more-luxury-focused strategy shift, Burberry has made “good initial progress” and is seeing “positive early signs from retail and wholesale customers. Its collections “resonated with new customers and top-tier clients,” and its “retail excellence programme supported increased conversion in all regions. In purely financial terms that translated into revenue down 1% at £2.733 billion on both a reported and currency-neutral basis, revenue with beauty wholesale factored-out was actually up 2%, reaching £2.66 billion
The company said retail comparable store sales rose 3%, much better than the 1% of a year earlier, despite its closing 20 stores.