Burberry sales slip 1% in third quarter

 

 

Burberry slips in third quarter. The British luxury company closed the third quarter of the fiscal year with almost flat sales. Between September and December, the company had a revenue of 711 million pounds, which means a fall of 1% compared to the same period from last year, as the company notified in advanced.

 

On a like-for-lile basis, however, the company increased its income by 1%. The regions that showed a better performance are China, Europe, Middle East and India, boosted by sales to tourists.

 

Marco Gobbetti, CEO of Burberry, explained that he is satisfied with the results obtained in the first phase of its multiannual strategy, so he maintains his estimations for the end of the fiscal year.

 

In addition, the manager pointed out that they are advancing in the transitional process that the company is carrying out in order to reposition the brand. Specifically, the company underlined the collaboration with the designer Vivienne Westwood, the launch of a monthly collection called B Series, and the transformation of its distribution network, which builds on closing some stores in the United States and remodelling ten of its flagship stores around the world.