Burberry Group plc (BRBY) Q4 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.578 Good morning, everyone, and welcome to our preliminary results for the 2026 financial 00:00:05.578 -- 00:00:10.625 year. I'm Josh Schulman, Chief Executive Officer of Burberry, and with 00:00:10.625 -- 00:00:15.128 me is Kate Ferry, our Chief Financial Officer. 00:00:16.312 -- 00:00:21.599 One year ago today, we were in an early phase of our Burberry Forward 00:00:21.599 -- 00:00:23.482 transformation, 00:00:23.482 -- 00:00:27.352 deeply focused on stabilizing the business. 00:00:27.352 -- 00:00:30.837 Today, I am pleased to report 00:00:30.837 -- 00:00:33.338 on our progress. 00:00:33.401 -- 00:00:39.627 This past year has marked a meaningful inflection for Burberry. 00:00:40.411 -- 00:00:46.497 I am very proud of what our team has accomplished this year. 00:00:46.620 -- 00:00:51.367 We have returned to positive comparable sales with sequential momentum throughout the 00:00:51.367 -- 00:00:57.462 year and particular strength in greater China and the Americas, 00:00:57.462 -- 00:01:02.910 both of which delivered double-digit comp growth in Q4. 00:01:02.910 -- 00:01:08.257 We have reignited brand momentum with improved cultural relevance, attracting 00:01:08.257 -- 00:01:13.662 a new generation of Gen Z customers to the brand. 00:01:13.905 -- 00:01:19.413 We have asserted our authority in outerwear and scarves as reflected in 00:01:19.413 -- 00:01:23.630 the outperformance of these categories throughout the year. 00:01:23.630 -- 00:01:28.557 And as the year progressed, we saw that momentum extend 00:01:28.557 -- 00:01:31.258 into other categories. 00:01:31.301 -- 00:01:36.348 And finally, we have improved the quality of our sales, 00:01:36.348 -- 00:01:41.756 delivering a significant increase in gross margin as well as operating 00:...