LONDON (dpa-AFX) - Burberry Group (BRBY.L) reported a 1% decline in comparable store sales for the first quarter ended 28 June 2025, compared to a 21% drop in the same period last year.
Comparable retail sales showed sequential improvement across all regions. In EMEIA, sales grew by 1%, driven by increased local spending which helped counterbalance reduced tourist activity. The Americas saw a 4% rise, supported by growth in the number of new customers. In contrast, Greater China experienced a 5% decline, with Mainland China down by 4%. Asia Pacific also recorded a 4% drop, reflecting weaker performance in Japan, though this was partially offset by growth in South Korea.
Retail revenue for the first quarter declined 6% to 433 million pounds from last year's 458 million pounds, while it was down 2% at constant exchange rates.
Burberry said its cost efficiency programme remains on track to achieve annualised savings of 80 million pounds by fiscal year 2026.
Looking ahead for fiscal year 2026, the company said it remains confident that it is positioning the business for a return to sustainable and profitable growth.
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