Sumary of Burberry experiences ups and downs in the first quarter:
- At least the company’s core categories ie leather goods and outerwear continued to do well outside mainland China and our brand activations program drove customer engagement.
- Son Heung-min is the latest footballer to become a Burberry ambassador – Burberry However, results continued to be affected by lockdowns in mainland China, which is a key market for the company.
- For its part, the American continent decreased by 4%, slowing down in the face of very harsh comparative figures.
- Burberry presented its first quarter results on Friday, with good and bad news.
- It started the quarter with around 40% of its distribution disrupted by closures in mainland China, including its digital hub.
- Declines in mainland China were at least partially offset by strong performances in the recovering markets of Japan and SAP (South East Asia).
- Outages continued for the first two months, but all stores reopened at the end of the period.