Burberry, which is undergoing a turnaround under CEO Joshua Schulman, posted higher-than-expected sales growth in the third quarter of its fiscal year. The brand is increasingly appealing to Generation Z shoppers.
Smaller loss
Retail sales in the past quarter amounted to £665 million (€762 million), representing a 3% year-on-year increase at constant exchange rates. Comparable sales also rose by 3%. There was also a smaller operating loss. Burberry is seeing growth in America and Asia, while store sales in the EMEA region remain flat due to a decline in tourist spending. In its January 21 update, the fashion house highlighted progress in core categories and with younger target groups.
