Global Retail Alliance
info@gra.world
  • Login
  • Register
  • Newsletter
  • Virtual Library
  • Choose your country
    • Australia
    • Brazil
    • China
    • Poland
    • Latin America
    • Middle East
GRAGRA
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact
  • Home
  • Membership
    • Silver
    • Gold
    • Platinum
  • Event
  • News
  • Retail Tour
    • Our Tours
    • Europe Retail Tour
    • Retail Tour – New York
    • Retail Tour – Düsseldorf
  • Contact

Retail News

  • Home
  • Retail News
  • Burberry records marginal growth in first quarter

Burberry records marginal growth in first quarter

  • Categories Retail News
  • Date July 11, 2018
  • Comments 0 comment

Burberry has started its new financial year with an uptick in like-for-like sales, but the figure is a slowdown compared to the same period last year while retail revenue remained fairly flat.

For its first quarter period ending June 30, the luxury British retailer’s retail like-for-like sales rose three per cent compared to the four per cent growth recorded in the same period a year earlier.

Burberry said its sales in the UK and Europe had been knocked due to weaker tourist demand, but Chinese tourists had lifted sales in Hong Kong, Korea and Japan.

Despite this, its growth was in line with forecasts ahead of the launch of the first collection from its new chief creative officer Riccardo Tisci in September.

“We are pleased with our progress in the quarter,” chief executive Marco Gobbetti said.

“The team has embraced Riccardo’s creative vision and is working well together as we prepare for his debut collection in September, the next step in our journey.

“While we know it will take time to achieve our ambitions, our progress to-date and the energy in and around the company give me confidence for the future.”

Burberry added that there was no change to its annual guidance at current exchange rates, and that it was on track to deliver cost savings of £100 million.

Tisci, formerly from Givenchy, was appointed in March as the successor to Christopher Bailey, who was credited for elevating Burberry into the successful global brand it is today.

https://www.retailgazette.co.uk/blog/2018/07/burberry-eases-first-quarter-3-sales-growth/

  • Share:
gsiino

Previous post

Whole Foods' Suppliers Are Shifting From Shelves to Screens
July 11, 2018

Next post

Walgreens, Coca-Cola Host 4th Annual 'Happy Hour'
July 12, 2018

You may also like

IMG_4247
Check out this article on optimising fashion retail with end-to-end software solutions
24 June, 2025
IMG_4093
Aldi targets 20 new store locations across the UK
18 June, 2025
lithuania
Retail technology innovation of the week: AI driven age estimation tech goes live at IKI Lithuania stores
13 June, 2025

Leave A Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search News:

News category:

News Archive:

Last News:

Check out this article on optimising fashion retail with end-to-end software solutions
24Jun2025
Aldi targets 20 new store locations across the UK
18Jun2025
Retail technology innovation of the week: AI driven age estimation tech goes live at IKI Lithuania stores
13Jun2025
Carrefour first major European grocer to adopt VusionGroup EdgeSense tech, following Walmart roll-out in US
12Jun2025
BAO BAO ISSEY MIYAKE Opens Its First U.S. Flagship Store in Soho, New York
12Jun2025

© 2022 Global Retail Alliance | info@gra.world | Privacy Policy