// Burberry sees sales rise as China rebounds in its fourth quarter
// Revenues topped the £3bn mark in the twelve months to the start of April this year
Burberry boss Jonathan Akeroyd hailed a “strong financial performance” that saw full-year sales soar.
Revenues at the luxury British fashion retailer rose 10% topping the £3bn mark in the twelve months to the start of April this year. Its fourth quarter was significantly boosted by a rebound of its largest market China, following three years of Covid-19 restrictions.
Leather goods and outerwear performed particularly well in the last quarter, with sales up 12% and 7% respectively as operating profit hit £657m.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Store sales across all of its markets increased, with Asia Pacific rising by 2%, Europe, Middle East, India and Africa by 27%, and Americas by 3%.
During the period, the retailer opened 60 new stores and “reorganised its supply chain, merchandising, and digital operations” under new leaders.
Chief executive Akeroyd said: “I am very pleased with what we have achieved this year. We have delivered a strong financial performance, supported by good progress in our core leather goods and outerwear categories, with revenue accelerating in the fourth quarter as growth rebounded in Mainland China.
“Having appointed Daniel Lee as our new chief creative officer, we have refocused our brand aesthetic and brought his new creative vision to life with a campaign and runway show that have been very well received. At the same time, we have reorganised our supply chain, merchandising and digital teams under new leaders to drive our strategy forward.”
Akeroyd said he was confident that Burberry can achieve its current year and medium-term targets as the retailer focuses on executing its plan to “realise Burberry’s potential as the modern British luxury brand”.
Click here to sign up to Retail Gazette‘s free daily email newsletter
