British fashion house Burberry sees 26% sales growth in Q3FY22

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Against an ongoing challenging backdrop, full-price sales of British fashion house Burberry has accelerated significantly in the third quarter of fiscal 2022, an increase of 26 per cent in the third quarter of last year on a comparable basis. Regionally, full-price comparable store sales were driven by continued strong performance in the Americas.

“Full-price sales continued to grow at a double-digit percentage compared with two years ago, accelerating from the previous quarter and reflecting a higher quality business. Our focus categories outerwear and leather goods performed strongly as we continued to attract new, younger consumers to the brand. Despite the ongoing challenges of the external environment, we are confident of finishing the year strongly and providing an excellent platform on which to build when our new CEO Jonathan Akeroyd joins in April,” Gerry Murphy, chair, said.

In product, the luxury group made further progress in our focus categories outerwear and leather goods. Full-price outerwear sales grew 38 per cent in the third quarter supported by the campaign and new elevated check range in Birch Brown colourway. Leather goods also strengthened over the prior period, with full-price sales up 29 per cent in the third quarter of fiscal 2022 in comparison to the prior-year period with the introduction of the crossbody, tote and SLG versions as part of winter collection.

Against an ongoing challenging backdrop, full-price sales of British fashion house Burberry has accelerated significantly in the third quarter of fiscal 2022, an increase of 26 per cent in the third quarter of last year on a comparable basis. Regionally, full-price comparable store sales were driven by continued strong performance in the Americas.

At the same time, Burberry continues to elevate the customer experience with the roll out of our new store concept. In total, they now have 31 stores in the new design including their second flagship Plaza 66, Shanghai, and remain on track to deliver around 50 new concept stores by the end of the financial year.

“Digital innovation remains a key driver of growth for the business with digital full-price sales up high double digits as compared to previous year period. We are seeing strong and increasing engagement with customers globally buying online as an outcome of enhancements we have made to the online purchase journey including greater personalisation. We are also seeing strong adoption by customers of omnichannel solutions, including booking store appointments, which we are expanding across more stores and countries,” Burberry said in a press release.

“We continue to embed ESG across our operations and remain on track to complete our 2017-2022 Responsibility goals this year. We announced the refinancing of our Revolving Credit Facility to a £300 million Sustainability Linked Loan with funding linked to the achievement of key ESG targets as part of our ambition to become Climate Positive by 2040. This includes accelerating emissions reductions across our extended supply chain (Scope 3) by 46 per cent by 2030 and becoming net-zero by 2040, 10 years ahead of the 1.5°C pathway set out in the Paris Agreement. It also involves investing in nature-based projects with carbon benefits that restore and protect natural ecosystems and enhance the livelihoods of global communities,” explained Murphy.

Fibre2Fashion News Desk (RR)





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