A trading update from Burberry puts the company’s revenues of £659 million for the third quarter of the current financial year. This represents a fall of 7% compared to the same period last year.

Chief executive, Joshua Schulman, said the company was at an early stage of a transformation he outlined in 2024, a programme called Burberry Forward. He said there had been “an improvement in brand desirability and strength in outerwear in scarves”.

He explained that this had reinforced his belief that Burberry has “the most opportunity where we have the most authenticity”. He said at the end of 2024 that, while leathergoods would continue to be an important category for the brand, this would not be “where we lead”.

Please see the new issue of World Leather for a more detailed examination of Burberry Forward.

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