Burberry Q3 Comparable Retail Sales Rise Ahead of Market Views – Update


By Sabela Ojea

Burberry Group PLC said on Wednesday retail revenue and same-store sales increased in the third quarter of fiscal 2022, with new customers driving double-digit full-price sales growth across all of its product categories over a two-year basis.

The British luxury goods company also left its mid-term guidance for high single-digit revenue growth unchanged and said it currently expects to end the financial year with adjusted operating profit growth. about 35% compared to the previous one. year.

Burberry, known for its plaid clothing brand, said same-store sales rose 7% year on year for the 13 weeks ending December 25, and were down 3% from the third. quarter of the 2020 financial year on a like-for-like basis. as a basis.

Same-store retail sales are expected to rise 5% on average over the period, according to the consensus compiled by the company, based on estimates from 15 analysts.

The FTSE 100-listed company said full-price comparable store sales rose 15%, accelerating from the previous quarter, and 26% on a two-year comparison basis. Retail revenue rose to £723m ($983m) from £688m for the same period a year earlier, it added.

The currency headwind on revenue is now expected to fall to £79m from around £100m, and fall to £27m after a ~£40m impact on earnings from operating adjusted.

“Our focus outerwear and leather goods categories performed well as we continued to attract new, younger consumers to the brand,” said President Gerry Murphy.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix


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