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Burberry sales edge up in third quarter

Comparable store sales were up 3% at Burberry for the 13 weeks to 28 December 2019.

Retail revenue at the luxury brand was up £8m to £719m in the same period, from £711m in the 13 weeks ending 29 December 2018.

Burberry now expects total revenue for the 2019/20 financial year to grow by a low single-digit percentage, compared with previous guidance of broadly stable sales.

Growth was led by full-price sales, but partially offset by lower levels of markdown inventory available for Sale and continued disruptions in Hong Kong.

“This was another good quarter as new collections delivered strong growth and we continued to shift consumer perceptions of our brand and align the network to our new creative vision,” said CEO Marco Gobbetti. “While mindful of the uncertain macro-economic environment, we remain confident in our strategy and the outlook for FY 2020.”

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