Burberry Group plc (BRBY) Q3 2026 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:00.487 -- 00:00:05.736 Good morning. I'm Kate Ferry, CFO of Burberry, and with me today is 00:00:05.736 -- 00:00:10.985 Josh Shulman, our CEO, and Lauren Wu-Leng, Head of Investor Relations. 00:00:10.985 -- 00:00:15.492 There are slides to accompany this call on our corporate website, and a transcript will 00:00:15.492 -- 00:00:18.718 also be available later today. 00:00:18.718 -- 00:00:22.784 In terms of running order, I'll go through our performance in the third quarter, and 00:00:22.784 -- 00:00:26.848 then Josh and I will be happy to take your questions. 00:00:27.959 -- 00:00:32.663 Since our last update just a couple of months ago, we have continued to see positive 00:00:32.663 -- 00:00:37.127 signals across the business, which provide further proof points that the Burberry Forward 00:00:37.127 -- 00:00:39.188 strategy is working. 00:00:39.188 -- 00:00:44.233 For the third quarter, comparable retail sales grew 3% versus last year, a 00:00:44.233 -- 00:00:47.395 sequential improvement on Q2. 00:00:47.395 -- 00:00:52.360 As planned, we delivered a higher quality of sales across all channels and regions as 00:00:52.360 -- 00:00:58.790 we returned to a shorter, shallower and more discreet markdown period versus last year. 00:00:58.790 -- 00:01:03.682 We saw continued brand momentum with the outerwear and festive campaigns, and these were 00:01:03.682 -- 00:01:07.531 further amplified with activations around the world. 00:01:07.531 -- 00:01:12.002 We delivered a double-digit improvement in Gen Z customer growth in Greater China and 00:01:12.002 -- 00:01:17.470 Asia-Pacific, with growth in younger consumers across all regions. 00:01:17.470 -- 00:01:22.520 Our hero categories continue to outperform, with scarves and outerwear both up 00:01:22.520 -- 00:01:...