Business
Burberry Third Quarter Trading Statement
Burberry Third Quarter Trading Statement.
About this update from Burberry Group Plc
[{"type":"text","content":"\n \nRNS Number : 4850A Burberry Group PLC 22 January 2020 \n\n22 January 2020 \n \nBurberry Group plc \nThird Quarter Trading Update\n \n \nGood progress on brand transformation\n\"This was another good quarter as new collections delivered strong growth and we continued to shift consumer perceptions of our brand and align the network to our new creative vision. While mindful of the uncertain macro-economic environment, we remain confident in our strategy and the outlook for FY 2020.\"\nMarco Gobbetti, Chief Executive Officer\n \n• New product continues to perform well, now around 75% of our mainline retail store offer\n• Continued focus on consumer inspiration, with social and digital innovations, and additional new and refreshed stores\n• Excellent response to our Festive campaign and Lunar New Year activities \n• Continued focus on Chinese consumers including taking our runway show to Shanghai in April and developing our first social retail store in partnership with Tencent to open in Shenzhen in H1 2021\n \nRetail revenue 13 weeks ended December\n\n\n\n\n \n\n\n28 Dec\n\n\n29 Dec\n\n\n % change\n\n\n \n\n\n\n\n£ million\n\n\n2019\n\n\n2018\n\n\nReported FX\n\n\nCER\n\n\n\n\nRetail revenue\n\n\n719\n\n\n711\n\n\n1%\n\n\n2%\n\n\n\n\n Comparable store sales*\n\n\n3%\n\n\n1%\n\n\n \n\n\n \n\n\n\n\n*See page 3 for definition\nComparable store sales +3%. Growth led by full price sales, partially offset by lower levels of markdown inventory available for sale and continued disruptions in Hong Kong S.A.R\n• Asia Pacific grew by a low single digit percentage driven by Mainland China up mid-teens, whilst Hong Kong S.A.R sales halved \n• EMEIA grew by a high single digit percentage supported by tourist spend, which particularly benefited Continental Europe\n• Americas was stable. The US grew by a low-single digit percentage partially offset by Canada \n• Continued growth in apparel. Accessories benefited from a fuller leat...