Burberry Group plc (BRBY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

We actually have some seats here in the front row. This is like the first day at school. No one wants to be, no one wants to be, it's not like a fashion show because at the fashion show, they really want to be seated in the front row. It's all about your seat. In any case, good morning and welcome to our interim results and our update on the Burberry Forward Strategy. I'm Josh Shulman, CEO of Burberry, and with me is Kate Ferry, our Chief Financial Officer. One year into Burberry Forward, my belief in this extraordinary British luxury house is stronger than ever. Since we met last November, we have moved from stabilizing the business to returning to growth. I am encouraged by the signals I am seeing throughout the business, which provide initial proof points that our Burberry Forward strategy is working. With our timeless British luxury brand expression and an improved product offer, our brand has become more desirable. We're attracting new customers to the brand while welcoming back existing customers, resulting in sequential improvement in customer growth. And these customers are responding strongly to our autumn and winter collections, with a significant increase in sell-through rate compared to last year. We're accelerating our momentum in our iconic categories, outerwear and scarves, and now this growth is extending into additional categories. In Q2, we returned our retail business to comp sales growth, for the first time in two years. And now, our most important wholesale partners are seeing the momentum as well. We recently completed our summer 2026 wholesale market, and the reaction has been very positive, with a significant increase in orders from key opinion-leading partners in the US and Europe, an incredible vote of confidence in our product and Burberry'...