Burberry Q1FY18 comparable sales grow 3%

13 Jul '18

2 min read

Courtesy: Burberry plc

Burberry has recorded 3 per cent increase in its comparable sales in the first quarter of fiscal 2018, with a solid performance in retail in a period of transition. The company has also announced strategic investment in key markets including relocating and expanding its flagship store in Dubai and closing an additional two outlets in the reported period.

In the first quarter of fiscal 2018, Burberry completed global roll out of new digital clienteling tool supporting enhanced customer service. Direct-to-consumer growth was led by Asia Pacific and mobile is now the largest digital channel.

The comparable sales in Asia Pacific region grew by a mid-single digit percentage, in the Americas the comparable sales grew by a high single digit percentage while the EMEIA declined by a low single digit percentage.

The company's first quarter retail performance grew by local and returning top customers, with trench roll-out in over 80 stores. There was a strong response to Burberry's complete wardrobe offer and full look merchandising.

"We are pleased with our progress in the quarter. The team has embraced Riccardo’s creative vision and is working well together as we prepare for his debut collection in September, the next step in our journey. While we know it will take time to achieve our ambitions, our progress to-date and the energy in and around the company give me confidence for the future." Marco Gobbetti, chief executive officer. (RR)

Fibre2Fashion News Desk – India

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