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Burberry comparable sales up 1% in Q3FY18

03
Feb '19
Courtesy: Burberry plc
Courtesy: Burberry plc
The comparable sales of Burberry have gone up 1 per cent during the third quarter of fiscal 2018 over previous year. The British luxury fashion house is continuing to shift consumer perceptions of the brand, driving increases in digital engagement and endorsement from key influencers. Burberry has also witnessed a consistent performance across regions.

Asia Pacific benefited from Mainland China up mid-single digits. While, EMEIA showed a small improvement in tourist spending quarter on quarter and Americas was impacted by softer footfall trends.

"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. We will continue to manage the business dynamically as we reposition the brand. We confirm our outlook for the full year," Marco Gobbetti, chief executive officer.

The company's wholesale clients responded positively to Riccardo’s commercial product lines as the transformation of our distribution network continues. Preparations are on track for launch of Riccardo’s debut runway collection arriving in stores from late February.

Building on its commitment to become carbon neutral in our own operations by 2022, in December the group partnered with UN Climate Change to launch the Fashion Industry Charter for Climate Action. The charter is aimed to drive change across the industry with an initial goal of reducing the aggregate greenhouse gas emissions by 30 per cent by 2030.

"As previously highlighted, at this stage of the transition we are navigating our business between the new branding and vision for Burberry and the previous collection in store that does not yet reflect our new positioning. We continued to manage our business dynamically, delivering comparable store retail sales growth of +1% in the period," explained Gobbetti. (RR)

Fibre2Fashion News Desk – India


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