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British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year.• Revenue flat at CER and -4% at reported • Comparable store sales - 1% with robust H1 up +10% offset by a challenging H2 - 8% • Adjusted operating profit fell - 25% CER and reported - 34% . British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year.• Revenue flat at CER and -4% at reported • Comparable store sales - 1% with robust H1 up +10% offset by a challenging H2 - 8% • Adjusted operating profit fell - 25% CER and reported - 34% with margins 15.5% and 14.1% respectively
Asia Pacific increased 36% with Mainland China up 46%. Globally, we saw good strength from the Mainland Chinese nationality customer that grew mid-teens against FY22 and helped drive a strong performance in South Asia Pacific 39% and contributed to . In the 13 weeks ended July 1, Burberry’s retail revenue rose to 589 pounds from 505 pounds in the corresponding period last year. They were up 19 percent at constant exchange, and 17.
British luxury brand Burberry has unveiled its financial results for the first three months of the 2023-24 fiscal year, revealing remarkable performance in the Chinese market. The company reported a staggering 46% year-on-year increase in mainland China’s store sales, contributing to an overall 18% growth in comparable store sales for the group.
• Revenue reached £3.1 billion, up 5% at constant exchange rates (CER) and 10% at reported rates • Adjusted operating profit was £634 million, up 8% at CER • Reported operating profit was £657 million, up 21% Full-year revenue rose 5 percent at constant exchange to 3.09 billion euros, with comparable-store sales increasing 7 percent. Business in the quarter was driven by outerwear and leather goods,. British luxury fashion brand Burberry reported an 18% rise in first-quarter comparable store sales on Friday, meeting market expectations thanks to a continued rebound in China. LONDON — The only way is luxury, said Burberry as it reported record revenue and higher-than-expected profits in fiscal 2021-22 despite the lockdowns in China, war in Ukraine and rocketing.
Burberry’s same store sales growth slowed to 1 per cent in the third quarter — from 5 per cent in the first half — as a strong performance in Europe only partially offset Covid disruption in China. British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year.• Revenue flat at CER and -4% at reported • Comparable store sales - 1% with robust H1 up +10% offset by a challenging H2 - 8% • Adjusted operating profit fell - 25% CER and reported - 34% with margins 15.5% and 14.1% respectively Asia Pacific increased 36% with Mainland China up 46%. Globally, we saw good strength from the Mainland Chinese nationality customer that grew mid-teens against FY22 and helped drive a strong performance in South Asia Pacific 39% and contributed to .
In the 13 weeks ended July 1, Burberry’s retail revenue rose to 589 pounds from 505 pounds in the corresponding period last year. They were up 19 percent at constant exchange, and 17.
British luxury brand Burberry has unveiled its financial results for the first three months of the 2023-24 fiscal year, revealing remarkable performance in the Chinese market. The company reported a staggering 46% year-on-year increase in mainland China’s store sales, contributing to an overall 18% growth in comparable store sales for the group.• Revenue reached £3.1 billion, up 5% at constant exchange rates (CER) and 10% at reported rates • Adjusted operating profit was £634 million, up 8% at CER • Reported operating profit was £657 million, up 21% Full-year revenue rose 5 percent at constant exchange to 3.09 billion euros, with comparable-store sales increasing 7 percent. Business in the quarter was driven by outerwear and leather goods,. British luxury fashion brand Burberry reported an 18% rise in first-quarter comparable store sales on Friday, meeting market expectations thanks to a continued rebound in China.
LONDON — The only way is luxury, said Burberry as it reported record revenue and higher-than-expected profits in fiscal 2021-22 despite the lockdowns in China, war in Ukraine and rocketing.
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