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Tisci's designs drive sales uplift at Burberry

Burberry’s retail revenue grew 4% year on year to £498m for the 13 weeks to 29 June.

The luxury brand said there had been an “excellent” response to chief creative officer Riccardo Tisci’s new collections. Like-for-like store sales were also up 4%.

Men’s and women’s wear both grew by a double-digit percentage during the period, but sales of accessories declined.

There was low-single digit percentage growth in Europe, the Middle East and Africa, supported by a boost in tourist spend.

Burberry is working on a two-year transformation plan to “shift consumer perceptions of the brand”. This includes new product, improved social media and organic endorsement from influencers.

CEO Marco Gobbetti said: “This was a good quarter in our journey to transform Burberry. […] We are on track with our plans and we confirm our outlook for FY 2020.”

For the 2019/20 financial year, it expects “broadly stable revenue and adjusted operating margin at CER [constant exchange rates], including cumulative cost savings of £120m.”

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