Burberry restructuring stems bleeding

Burberry sees the first signs of recovery: the luxury fashion brand reports a smaller decline in revenue in the first quarter after beginning its restructuring process. Growth in America and the EMEIA region compensates for disappointing figures in Asia.

First encouraging signs

Burberry’s retail revenue fell by 6 % to 433 million pounds (510 million euros) in the thirteen weeks ending 28 June. Comparable store sales went down 1 %, but that is significantly less than the 21 % drop in the same period last year. In the regions of America and EMEIA (Europe, the Middle East, India and Africa), the fashion brand recorded increases of 4 % and 1 % in comparable revenue. New visitors to the stores and a growing customer base played a significant role in this.