Burberry sales rebound in Q1
Comparable store sales rocketed 90% against last year and by 1% against 2019, as sales across the business returned to pre-pandemic levels
Burberry has welcomed a “strong” rebound in trading during its first quarter, as revenue soared by 86% to £479m in the period ended 26 June, 2021.
Comparable store sales rocketed 90% against last year and by 1% against 2019, as sales across the business returned to pre-pandemic levels. Within these sales, full-price sales rose by 26% against 2019, largely driven by new and younger clientele.
The group noted a particularly strong growth across its core strategic categories, with both full-price leather and outerwear more than doubling against 2020. Meanwhile, its online full-price sales more than doubled against 2019.
The group attributed its strong trading to a generation of younger customers, driven in part by campaigns featuring Kendall Jenner, FKA twigs and Shygirl, which “generated an excellent response from both press and consumers”, particularly across social media where consumer engagement reportedly rose by double-digit figures.
Looking ahead, the group said its FY22 guidance remains unchanged apart from wholesale, which is now expected to rise 60% year-on-year in H1 due to a stronger order book.
Marco Gobbetti, CEO, said: “We have made an excellent start to the new fiscal year. Full-price sales accelerated as our collections and campaigns attracted new, younger luxury customers to the brand.
“We saw strong growth across our strategic categories, in particular leather goods and outerwear, and exited markdowns in digital and mainline stores. We continued to roll out our new store concept that will transform how customers experience our brand and product in a uniquely British luxury setting.”
He added: “Despite the continuing challenging external environment, we are very pleased with the progress against our strategy. With the Company firmly set on a path of growth and acceleration, we are confident of achieving our medium-term goals.”
