Burberry reported its best sales performance in 18 months, driven by festival-goers purchasing wellies, scarves, and light jackets. Overall sales fell 2% to 433m, though this was an improvement from a 6% decline. Despite growth in Europe and the Americas, sales continued to drop in Asia, particularly China. CEO Joshua Schulman emphasizes taking steps towards recovery, targeting both elite VIP and younger customers through pop-up events. Burberry anticipates 100m in cost cuts and is focused on simplifying its business for improved productivity and cash flow.
Burberry has seen a sales performance boost due to festivalgoers purchasing wellies, scarves, and light jackets, marking the best results in 18 months.
Despite a 2% overall sales drop to 433m, Burberry's figures improved from a previous 6% fall, showing solid progress under Joshua Schulman's leadership.
Sales increased in Europe and the Americas, although declines continued in Asia, particularly in the crucial Chinese market, emphasizing the brand's varied geographical performance.
Joshua Schulman noted the macroeconomic challenges and optimistic outlooks, while the company began to target younger luxury consumers through innovative pop-up events.
Collection
[
|
...
]