17th Jul 2026 08:22
(Alliance News) - Burberry Group PLC on Friday reported a stronger first quarter helped by sales in the US and China and said its "strategy is working".
The London-based luxury retailer said retail revenue rose 5.1% to GBP455 million in the 13 weeks to June 27 from GBP433 million a year earlier, or 4% at constant exchange rates.
Comparable retail sales increased 5% despite a 1% drag from retail space.
Comparable sales rose 12% in the Americas, 9% in Greater China and 3% in Asia Pacific, while Europe, Middle East, India and Africa comparable sales were down 3%, due to the impact of the conflict in the Middle East.
Excluding the Middle East region, EMEIA comparable sales were down 1%.
Chief Executive Officer Joshua Schulman said: "I am pleased with our progress in the first quarter and the momentum we are building with Burberry Forward.
"For the first time in three years, we saw growth across our Womenswear, Menswear, Accessories and Childrenswear divisions, anchored by the outperformance of Outerwear. Our strategy is working. We are attracting a broad range of luxury customers across product categories, channels and geographies, reinforcing my confidence in the opportunities ahead."
Burberry reported double-digit growth in outerwear, while women's handbags returned to growth and e-commerce sales increased by a mid-teens percentage,
The company raised first-half wholesale revenue guidance to high-single-digit growth following a positive response from partners.
It expects full-year revenue growth and margin expansion in line with expectations, and said retail space should remain broadly stable in financial 2027.
Shares in Burberry were down 4.7% to 1,068.00 pence on Friday morning in London.
By Michael Hennessey, Alliance News reporter
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