“Over the past year, we have moved from stabilising the business to driving Burberry Forward with confidence. The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability gives us conviction in the path ahead. Our Autumn 2025 collection is being well received by a broad range of luxury customers as it arrives in stores. Although the external environment remains challenging and we are still in the early stages of our transformation, we are encouraged by the initial progress we are starting to see”, commented Joshua Schulman, Chief Executive Officer of Burberry. 

First Quarter Trading Update 

In the first quarter of the 2026 fiscal year, which ended on the 28^th of June, the company’s retail revenue totalled 433 million British pounds (499.6 million euros), reflecting a 6% decline (or a 2% decline at current exchange rates), as compared to the same period in the previous fiscal year. 

However, comparable retail sales improved sequentially in all regions, marking a turnaround from a 21% decline in the first quarter of fiscal 2025 to a 1% drop.

Compared with the same period last year, Burberry’s first quarter comparable sales increased by 1% in the EMEIA region, boosted by local spending, and by 4% in the Americas region, supported by growth in the number of new customers. In Greater China, they fell by 5%, driven by a 4% decline in Mainland China. Elsewhere in the Asia-Pacific region, they fell by 4%, with a challenging performance in Japan being partially offset by growth in South Korea.

The luxury company highlighted that this improvement was the result of actions implemented as part of the Burberry Forward strategy, which aimed to enhance the brand’s desirability. These included a series of monthly campaigns appealing to different customer archetypes, the launch of the Rebalanced Autumn 25 collection with fewer but bigger ideas, enhanced visual merchandising in stores, and ongoing efforts to build online momentum.

FY 2026 Outlook

In an uncertain macroeconomic environment, Burberry intends to build on the initial steps taken to reignite the brand’s desirability. “In the first half we are continuing to prioritise investment and expect to see the impact of our initiatives build as the year progresses. We will deliver margin improvement with a continued focus on simplification, productivity and cash flow”, the statement reads. 

The company added that the cost efficiency programme is on track to deliver savings of up to 80 million British pounds (92.3 million euros) this fiscal year.