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British luxury brand Burberry delivered a second consecutive quarter of comparable growth as its Burberry Forward plan focused demand on heritage products and expanded its customer base.
Summary of results:
- Retail revenue reached £455 million, with comparable sales up 5%.
- The Americas grew 12%, while Greater China increased 9% driven by Gen Z demand.
- Burberry now expects first-half wholesale revenue to grow by a high-single-digit percentage.
Burberry reported retail revenue of £455 million for the 13 weeks ended 27 June 2026, up 5% from £433 million a year earlier, according to its first-quarter trading update. Off the back of the results the company raised its first-half wholesale guidance.
The update comes after the company’s return to profit in the year ended 28 March 2026, when it reported a pre-tax profit of £49 million, compared with a £66 million loss the year before.
Chief Executive Joshua Schulman commented on the results saying: “I am pleased with our progress in the first quarter and the momentum we are building with Burberry Forward.”
Burberry’s Q1 2026 results were defined by stronger trading in the Americas and Greater China, which offset weaker EMEIA sales, which fell 3%, reflecting disruption from the conflict in the Middle East and lower tourist spending. Excluding the Middle East, the region declined 1%.
Comparable sales in the Americas meanwhile increased 12%, supported by local demand and customer acquisition. Greater China grew 9%, with Burberry reporting strong growth among Gen Z shoppers.
E-commerce sales also increased at a mid-teens rate during the period.
Retail sales increased 4% at constant exchange rates, with currency providing a one percentage point boost. Comparable retail sales rose 5%, compared with a 1% decline in the corresponding quarter last year, while the contribution from retail space was negative 1%.
The company also increased its wholesale outlook following a positive response from retail partners. It now expects wholesale revenue to grow by a high-single-digit percentage in the first half of FY27.
Outerwear attracts new customers
Outerwear sales rose in the double digits, with strong demand across heritage rainwear and lightweight jackets. The Portraits of an Icon campaign helped drive a 19% rise in new rainwear customers.
Women’s handbags returned to growth and attracted new customers, while ready-to-wear benefited from demand for knitwear and polos. Burberry saw growth across womenswear, menswear, accessories and childrenswear for the first time in three years.
The positive results follow news from earlier this week, when Burberry shareholders approved a revised executive remuneration policy that could raise Schulman’s total package to £12.24 million if maximum performance and share-price conditions are met. The policy passed with 64.6% support and 35.4% opposition.
Burberry has also been focusing on fostering future design talent by formalising its partnership with Leeds Beckett University, which gives fashion students access to industry briefs, mentoring and work experience linked to its Yorkshire manufacturing operations.