Burberry sales underpinned by Mainland China
A mid-single-digit rise in Burberry sales in Mainland China in the third quarter helped produce a solid result for the luxury fashion retailer.
The strong China performance helped mitigate reduced footfall in the Americas and a subdued European market where tourist spending showed only a small improvement. Global same-store sales rose just 1 per cent.
However, CEO Marco Gobbetti said the company was buoyed by improvements and ongoing customer excitement ahead of new product delivery – the launch of new creative director Tisci Riccardo’s first runway collection which will hit stores next month.
“I am pleased with our progress in the quarter as we continued to build brand heat around our new creative vision and shift consumer perception of Burberry. Excitement is growing ahead of next month’s launch of Riccardo’s debut collection,” said Gobbetti.
“We will continue to manage the business dynamically as we reposition the brand. We confirm our outlook for the full year.”
He said the company was seeing a continued shift in consumer perceptions of the brand, driving increases in digital engagement and drawing endorsements from key influencers. Increased Burberry sales can only follow.