Burberry promotional image for September Collection 2016
British fashion house Burberry saw retail sales increase by 4 percent for the three-month period ended Dec. 31, 2016.
The third quarter financial results suggest that Burberry’s long-term plans for increased efficiency is on track. Burberry has faced financial struggles recently as consumer behavior and buying habits have shifted, resulting in the brand retooling its runway strategy and internal executive structure.
Making progress
For Q3, Burberry’s retail revenues totaled £735 million, or $906 million at current exchange rates, or 4 percent. Comparable sales were up 3 percent.
During the quarter, Burberry saw sales rebound in Asia Pacific and notable acceleration in Mainland China and improvement in Hong Kong, a struggling market for many luxury brands.
Double-digit percentage growth was also seen in the EMEIA region. The United Kingdom, for example, performed exceptionally in Q3 and France saw improvement despite many consumers’ concern after a number of terrorist attacks.
The Americas had low single-digit percentage decline. But, the United States consumers’ spend is increasing globally.
Burberry, for the third quarter, put its operational and strategic plans into practice and launched its holiday campaign, a film effort that saw more than 22 million views (see story).
Burberry’s The Tale of Thomas Burberry campaign, holiday 2016
“With a record number of views of out festive film and strong demand for new products in our collections,” said Christopher Bailey, chief creative and chief executive officer, in a statement. “This third quarter improvement reflects early progress from our plans to drive Burberry’s performance for the long term.
“We continue to take action to position the business for growth over time and our plans to enhance the efficiency are on track,” he said.
from Apparel and accessories – Luxury Daily https://www.luxurydaily.com/burberrys-efficiency-plan-on-track-after-positive-q3-says-christopher-bailey/
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