Business
Burberry 3rd Quarter Trading Update
Burberry 3rd Quarter Trading Update.
About this update from Burberry Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2321M\n Burberry Group PLC\n 20 January 2021\n \n \n \n 20 January 2021\n \n \n \n \n Burberry Group plc\n \n Third Quarter Trading Update\n \n \n \n Strong progress on strategic priorities\n \n \"Despite the challenging external environment, we made good progress on our strategic priorities in the quarter. We saw a strong increase in full-price sales as our collections and communication resonated well with new, younger clientele as well as existing customers. Our localised plans and digital capabilities helped drive growth in rebounding markets and we implemented our planned reduction in markdown. While the short-term outlook remains uncertain due to COVID-19, we are well placed to accelerate when the pandemic eases.\"\n \nMarco Gobbetti, Chief Executive Officer\n \n \n Retail comparable store sales declined 9% as planned reductions in markdown and reduced tourist traffic in outlets offset high single-digit full-price sales growth \n \n \n \n COVID-19 related store closures averaged 7% in Q3 FY2021 impacting trading\n \n \n \n \n \n Full-price sales growth driven by new, younger clientele as well as repeat customers \n \n \n \n \n \n \n \n Good strategic progress in key areas:\n \n \n \n \n \n \n o \n Full price sales in leather and outerwear increased low teens\n \n \n o \n Digital full-price sales growth over 50% with Mainland China in triple digits\n \n \n \n \n Highly successful festive campaign featuring Marcus Rashford MBE \n \n \n \n \n Retail revenue 13 weeks ended 26 December\n \n \n \n \n \n \n \n 26 Dec\n \n \n 28 Dec\n \n \n % change\n \n \n \n \n \n \n \n £ million\n \n \n 2020\n \n \n 2019\n \n \n Reported FX\n \n \n CER\n \n \n \n \n Retail revenue\n \n \n 688\n \n \n 719\n \n \n -4%\n \n \n -5%\n \n \n \n \n Comparable store sales*\n \n \n -9%\n \n \n 3%\n \n \n \n \n \n \n \n \n \n \n \n *See page 4 for definition\n \n \n Comparable store sales -9%.\n \n \n Asia Pacific +11% with strong growth in Mainland China and Korea \n \n \n \n EMEIA -37% due to fewer tourists and COVID-19 related store closures \n \n \n \n \n \n Americas -8% as mid-teen increase in full-price sales was more than offset by planned reductions in markdown activities \n \n \n \n \n \n Outlook FY2021\n We remain encouraged by the strong underlying outper...