LONDON – Burberry’s retail revenue rose 5 percent to 455 million pounds in the first fiscal quarter, bolstered by Gen Z and customers’ appetite for trench coats, scarves and handbags, the latter of which returned to growth in the three months ended June 27.
Retail sales grew 4 percent at constant exchange, with space down 1 percent in the period. Currency represented a 1 percent tailwind, the company said.
Comparable retail sales were up 5 percent compared with minus 1 percent in the corresponding period last year, with the Americas showing the most growth. The region rose 12 percent, followed by Greater China, where sales were up 9 percent. Asia-Pacific climbed 3 percent.
The only region where growth shrank was EMEIA, or Europe, the Middle East, India and Africa. Burberry said the decline reflected the impact of the conflict in the Middle East. Stripping that out, sales fell 1 percent.
The brand said it saw “outsized growth” in Gen Z customers in Greater China. The cohort, born between 1997 and 2012, also led overall customer growth in the quarter, according to Burberry.
