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Burberry Q1 retail revenues fall as external environment remains 'challenging'
(Sharecast News) - Luxury fashion house Burberry said on Friday that retail revenues fell by 6% to £433.0m in the three months ended 28 June as the external environment remained "challenging". Burberry said comparable store sales were up 1% in its Europe, Middle East, India & Africa segment and 4% in the Americas, but dropped 5% in Greater China and 4% in its Asia-Pacific segment.
Looking forward, Burberry said it was still in the "early stages" of its turnaround, and noted that the macroeconomic environment "remains uncertain".
"Our focus this year is to build on the early progress we have made in reigniting brand desire, as a key requisite to growing the topline," said Burberry.
"We remain confident that we are positioning the business for a return to sustainable, profitable growth."
Reporting by Iain Gilbert at Sharecast.com
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