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Burberry reports fourth quarter financial earnings

Date: February 26, 2024 Time: 20:47:22

Fashion house Burberry has announced earnings for its fourth financial quarter, which ended on April 1. The brand’s revenue increased for the first time since the coronavirus pandemic. The indicator increased by 16%. WWD reports.

Despite overall growth, Burberry’s sales in the Americas declined 7%. The brand refers to uncertain economic circumstances, in which consumers prefer to save on expensive purchases. China is up 13%, Asia Pacific 19% and Europe, Africa and the Middle East 27%.

Burberry’s operating profit rose 8% to £634m, with a margin of 21.2%. The brand leaves its forecast for 2024 and medium-term objectives unchanged. In the medium term, the company expects to achieve sales of £4 billion.

Burberry CEO Jonathon Akeroyd said new creative director Daniel Lee’s debut show was “very well received”. It also helped increase sales. The Lee collection will go on sale in September.

Previously, Burberry appointed China’s first ambassador in two years. They became the famous Chinese actor Chen Kun. We talk about it in more detail here.

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Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.
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