Burberry has increased its first quarter comparable store sales by just 1% after trading was impacted by Covid-19 lockdowns in mainland China.
When sales in the country were excluded, there was an uplift 16%. In contrast, comparable store sales in Burberry’s EMEIA region rose by 47%.
During the 13-week period ending 2 July, Burberry enjoyed double-digit growth in sales of leather goods and outerwear outside mainland China, with its Lola handbag range being particularly popular. The rainwear and jacket categories also performed well.
Looking ahead, Burberry said it is continuing to aim for high-single digit revenue growth and 20% margins in the medium term. It also revealed that its performance in mainland China has been encouraging since stores reopened in June.
