In this week’s Luxury Briefing, we look at Burberry’s earnings and new categories, and why Dior put its 2026 Cruise show on BeReal. Also, executive moves at Rent the Runway, and news to know about Derek Lam 10 Crosby, Ferragamo and Amazon. For tips or comments, email me at zofia@glossy.co.Burberry’s turnaround efforts are reading more like a Coach-style playbook: make the brand’s most recognizable codes easier to shop, easier to understand and more culturally visible.
The company reported its full-year earnings on Thursday. For the year ending on March 28, Burberry reported revenue of £2.42 billion, or about $3.29 billion, roughly flat on a constant-currency basis. Comparable store sales were up 2% for the year and 5% in the fourth quarter, helped by 10% growth in both Greater China and the Americas. Bernstein analyst Luca Solca said in a May 14 note that Burberry’s fourth-quarter comparable retail sales were in line with consensus, while the Americas and Greater China outperformed expectations. Gross margin also came in ahead of expectations, at 67.9%, versus 66.3%.
On the earnings call, CEO Joshua Schulman’s clearest point was about the store floor. Burberry is taking the categories customers already understand — trench coats, scarves, polos and cashmere — and turning them into dedicated shopping moments, including scarf bars, polo galleries and, next, trench and cashmere destinations.
