LONDON – COVID-19 disruption in China took a bite out of Burberry’s growth in the important thing holiday trading period, with third-quarter retail revenue flat at constant exchange, and up 5 percent at reported rates.
Retail revenue was 756 million kilos within the 13 weeks ended Dec. 31, compared with 723 million kilos within the corresponding period last yr. Comparable store sales were up 1 percent, compared with 7 percent within the corresponding period last yr.
In mainland China, certainly one of Burberry’s biggest markets, sales were down 23 percent attributable to lockdowns and the country’s later decision to chill out COVID regulations throughout the period.
Outside mainland China, comparable stores sales advanced 11 percent with the EMEIA region, Japan, South Korea and South Asia-Pacific...
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