UK fashion house Burberry’s retail revenue reaches £756 mn in Q3 FY23


British luxury fashion house Burberry’s retail revenue reached £756 million in the third quarter of financial year 2023, compared to £723 million in Q3 FY22. The company’s comparable store sales increased 1 per cent in Q3 FY23, compared to the corresponding period of the previous fiscal, mainly impacted by COVID-19-related disruption in Mainland China.

Outside of Mainland China, Burberry’s comparable stores sales in Q3 FY23 advanced 11 per cent YoY with EMEIA, Japan, South Korea and South Asia Pacific all showing double-digit growth, the company said in a press release.

British luxury fashion house Burberry’s retail revenue reached £756 million in the third quarter of financial year 2023, compared to £723 million in Q3 FY22. The company’s comparable store sales increased 1 per cent in Q3 FY23, compared to the corresponding period of the previous fiscal, mainly impacted by COVID-19-related disruption in Mainland China.

Women’s ready-to-wear comparable sales increased a mid-teen percentage YoY in Q3 FY23 supported by dresses and knitwear featured in seasonal campaigns. Men’s accessories categories grew strong double-digit comparable sales with bags increasing over 25 per cent.

Furthermore, outerwear saw high-single digit comparable growth YoY outside of Mainland China. Soft accessories over-indexed during Q3 FY23 for the accessories category, with the Archive Beige Check cashmere scarf driving approximately 60 per cent of sales for the category.

The company’s near and medium-term targets remain unchanged, as it continues to target high-single digit revenue growth with operating leverage ensuring good margin progression. Based on the effective foreign exchange rates as of 30th December 2022, Burberry expects a currency tailwind of c.£160 million on revenue and c.£70 million on adjusted operating profit in FY23.

“Overall, we are pleased with our performance in the third quarter as double-digit revenue growth outside of Mainland China offset the impact of COVID-19-related disruption there. Europe in particular continued to perform well, driven by strong trading over the festive period, and leather goods delivered another quarter of double-digit growth globally. We remain confident in our ability to reach our medium-term targets, despite the current macro-economic environment. We are focused on executing our plan to realise Burberry’s potential as the modern British luxury brand and we look forward to unveiling Daniel Lee’s debut collection for Burberry on our return to London Fashion Week next month,” said Jonathan Akeroyd, chief executive officer.

Fibre2Fashion News Desk (DP)




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