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Flat Burberry insists it’s on track

18/01/2018
Burberry has reported a 2% decline in revenue to £719 million for the quarter ending December 31, but said it remains on track to meet its full-year profit target.

In November, it set out a multi-year plan to re-energise the product and the customer experience, and is preparing to launch new bags this spring.

Sales in China grew in the mid single digits, sales in the US were flat and those in the UK declined by a high single digit percentage, following 40% growth in the third quarter of 2016, boosted by tourist inflows.

CEO Marco Gobbetti said: “We are building on strong foundations and are fully focused on the successful delivery of our multi-year plan to position Burberry firmly in luxury and deliver long-term sustainable value.”  

Burberry also announced this week it would cut ties with photographer Mario Testino in light of sexual harassment allegations.


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