Burberry’s annual revenues rose 21 per cent on a reported basis to reach £2.826 billion. It surged 23 per cent at constant exchange rates compared to two 52-week periods (CER). As per a Fashion Network report, the brand’s comparable retail store sales grew 18 per cent Y-o-Y and 6 per cent against FY20. Meanwhile, retail full-price comparable sales rose 24 per cent Y-o-Y and 30 per cent against FY20.
The brand’s adjusted operating profit increased 32 per cent Y-o-Y to £523 million. The brand has witnessed strong growth momentum and excellent response to its first in-person runway show in two years. Its continued investments in outerwear and leather goods helped full-price sales in these categories to rise by 39 per cent and 28 per cent, respectively, for the year.
Burberry has been investing heavily in transforming its flagship stores into new-concept destinations. It has redesigned 47 stores and plans to redesign 65 more stores in FY23. The brand has also strengthened the integration between its offline and online channels, expanding its aftercare offer and enabling customers to access bespoke services through its website.
