Burberry increases retail sales in the third quarter

Despite the strategic reduction in discounts, the British fashion group Burberry Group Plc was able to increase its retail revenues in the third quarter of 2021/22. Retail sales reached 723 million British pounds (867 million euros) in the 13 weeks ended December 25, the company said in an interim statement on Wednesday. Compared to the same period of the previous year, this meant growth of five percent (currency-adjusted +8 percent).

On a like-for-like basis, currency-adjusted retail sales were seven percent above the corresponding prior-year figure and three percent below the comparative level of the pre-crisis year 2019/20. The group highlighted that like-for-like and currency-adjusted sales of items sold at full price increased by 15 percent compared to the same period last year and even by 26 percent compared to the third quarter of 2019/20.

In view of the figures available, Chairman Gerry Murphy saw the fashion house on the right track: By deliberately foregoing discount campaigns, the business now has “a higher quality,” he explained in a statement. Burberry had decided to completely phase out discounts in its own retail business, including its online business, during the current financial year.

The company is also on track with its strategic initiatives in other respects: “Our focus categories outerwear and leather goods have achieved strong results, and we were also able to attract new, younger customers to the brand again,” says Murphy.

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