"Burberry has seen their sales rise for the first time in two years by 2% in the second quarter and in the first half of the year they remained flat compared to a 20% fall the previous year. The fashion retailer reported in the six months to 27 September pre-tax losses of £48 million against losses of £80 million the previous year. On an underlying earnings bases, Burberry hit £19 million of operating profit from losses of £41 million the previous year."
"Burberry said in a statement, "We are still in the early stages of our turnaround, and the macroeconomic environment remains uncertain. "Our focus this year is to build on the early progress we have made in reigniting brand desire, as a key requisite to growing the topline. "We expect to see the impact of our initiatives build as the year progresses.""
Sales rose 2% in the second quarter, the first increase in two years, while first-half sales remained flat after a 20% decline the previous year. Pre-tax losses narrowed to £48 million from £80 million a year earlier, and underlying operating profit reached £19 million versus prior-year losses of £41 million. Customers are returning, producing comparable-store sales growth, and the Burberry Forward strategy aims to restore brand relevance and value creation. Turnaround efforts are at an early stage amid macroeconomic uncertainty. Risks include softness in Chinese demand and potential US tariffs, though European manufacturing offers some protection.
Read at London Business News | Londonlovesbusiness.com
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