Same store sales of Burberry surged 32 per cent in Q4 of fiscal 2021. As per Womens Wear Daily, the bounce helped lift Burberry’s full-year performance, with the company posting 11 per cent decline in revenue to £2.34 billion with same store sales down 9 per cent for the 12-month period that was scarred by store closures worldwide, reduced tourism and uncertainty across all of Burberrys major markets. The brand’s operating profit in the 12 months ending March 27 more than doubled to £ 521 million with profit for the period more than tripling to £376 million due to tight cost and inventory management and increased full-price sales.

Burberry has reinstated its dividend to 2019 levels, paying 42.5 pence, compared with 11.3 pence last year. Ira recovery accelerated through the year despite an average 16 percent of stores being closed in the three month period. The company’s full-price sales grew 63 per cent in the fourth quarter – nearly double the rate of same store sales growth in the same period. Burberry said expects its 2022 revenues to grow by a high single digit percentage underpinned by the continued outperformance of full-price sales.

The brand will continue to strengthen brand equity by exiting markdowns in mainline stores in fiscal 2022. It also aims to become carbon neutral by the year and continue championing diversity and inclusion, impacting one million people in the communities in which it operates.