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Luxury fashion house Burberry has announced a marginal like-for-like sales increase over December as it “continued to build brand heat” around its new creative direction.
Burberry said that same store sales increase by 1% during the 13 weeks ending 29 December. This is despite total retail revenues having dropped by 1% from £718m to £711m – however this is an improvement on the 3% decline it reported in its last financial half-year.
The group said it made “good progress” in the quarter as it continues its turnaround plan and added that it “built brand heat and continued to shift consumer perceptions, while maintaining our focus on our financial and operational objectives” during the period.
CEO Marco Gobbetti said: “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.”
In the update Burberry added that its wholesale clients “responded positively” to to Tisci’s commercial product lines as it continues the transformation of its distribution network and said that preparations are “on track” for the launch of Tisci’s debut runway collection arriving in stores from late February.
