Full-price focus means Burberry ready to ‘accelerate’
Luxury brand Burberry "made good strategic progress" in the third quarter 2021, despite sales being 9% lower than the same period last year.
It focused on full-price sales – with full-price leathergoods sales growing in the low teens – and on new, younger customers.
It also noted its festive campaign featuring footballer Marcus Rashford, who has campaigned to end child poverty, was “highly successful”, with imagery featuring Marcus becoming its most liked Instagram post.
CEO Marco Gobbetti said: “Despite the challenging external environment, we made good progress on our strategic priorities in the quarter.
“Our localised plans and digital capabilities helped drive growth in rebounding markets and we implemented our planned reduction in markdown. While the short-term outlook remains uncertain due to covid-19, we are well-placed to accelerate when the pandemic eases.”
