// Burberry saw its like-for-like store sales edge up 1% in its third quarter as sales were hit by Covid-19 related disruption in mainland China
// Declines in China were partially offset by strong performances in South Korea and Japan
Burberry saw its like-for-like store sales edge up 1% in its third quarter after trading was impacted by Covid-19-related disruption in Mainland China.
Excluding Mainland China, comparable store sales grew 11%, with the EMEIA region, Japan and South Korea all achieving double-digit growth. Although, sales in Asia Pacific and the US fell by 7% and 1% respectively while mainland China sales dropped by 23%.
The British luxury fashion retailer said accessories continued to be a strong performing category while women’s ready-to-wear sales increased by a mid-teen percentage due to the popularity of dresses and knitwear featured in seasonal campaigns.
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Burberry continued to roll out its new store concept with 15 stores completed in the quarter, including Pacific Place in Hong Kong and North Park Centre Dallas in the US.
It now has 84 shops in the new concept and said it is on track to complete 65 stores in the current financial year.
Burberry chief executive Jonathan Akeroyd said: “Overall, we are pleased with our performance in the third quarter as double-digit revenue growth outside of mainland China offset the impact of Covid-19 related disruption there.
“Europe in particular continued to perform well, driven by strong trading over the festive period, and leather goods delivered another quarter of double-digit growth globally.”
“We are focused on executing our plan to realise Burberry’s potential as the modern British luxury brand and we look forward to unveiling Daniel Lee’s debut collection for Burberry on our return to London Fashion Week next month.”
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