UK’s Burberry’s Q3 FY25 retail revenue drops 7% to $689.7 mn

The comparable store sales of the company saw a decline of 4 per cent YoY, consistent with the previous year. However, there was a slight positive contribution from store space expansion, with the growth of 1 per cent on a reported basis and 2 per cent at CER, Burberry said in a press release.

Burberry Group plc has reported retail revenue of £659 million (~$689.7 million) in Q3 FY25, down 7 per cent YoY on a reported FX basis and 3 per cent at CER.
Comparable store sales fell 4 per cent, while space expansion contributed 1-2 per cent growth.
Asia Pacific saw a 9 per cent decline, EMEIA dropped 2 per cent, while the Americas grew 4 per cent.

Regionally, comparable store sales showed a mixed performance. The Asia Pacific region experienced the most significant decline at 9 per cent, driven by a 7 per cent drop in Mainland China, a steep 19 per cent decline in South Asia Pacific, and a 12 per cent decrease in South Korea, partially offset by a 4 per cent increase in Japan. In contrast, EMEIA (Europe, Middle East, India, and Africa) recorded a relatively mild decline of 2 per cent, while the Americas demonstrated resilience with a 4 per cent increase in comparable store sales.

Retail sales in Americas grew 4 per cent, boosted by local spend. Globally, the Americas customer was in line with the regional performance. In EMEIA region, it decreased by 2 per cent with a similar decline in both locals and tourists. Asia Pacific saw a decrease of 9 per cent with Mainland China down 7 per cent. Globally, the Mainland Chinese customer was flat versus last year and contributed to the 4 per cent increase in Japan. South Asia Pacific was down 19 per cent and South Korea down 12 per cent.

“Since launching Burberry Forward in November, we have moved at pace to advance our strategy to reignite brand desire, improve our performance and drive long-term value creation. We are encouraged by the response to our ‘It’s always Burberry weather’ outerwear campaign and ‘wrapped in Burberry” festive campaign. These activations resonated with a broad range of luxury customers leading to an improvement in brand desirability and strength in outerwear and scarves,” said Joshua Schulman, chief executive officer (CEO) at Burberry. “The acceleration of our core categories reinforces our belief that Burberry has the most opportunity where we have the most authenticity and that our strategic plan will deliver sustainable, profitable growth over time. However, we recognise that it is still very early in our transformation and there remains much to do.”

Fibre2Fashion News Desk (SG)