Festivalgoers help drive Burberry to best sales performance in 18 months | Burberry group

Burberry Wellies, scarves and light jackets to wear at music festivals, customers, despite the inanimate spending of tourists around the world, the fashion brand helps the best sales performance in 18 months.

The sales of the luxury British brand fell to 2% in three months by the end of June, a decrease in 1% in settled stores, a 6% decrease in the previous quarter and the best performance since 2023.

The stocks in Burberry rose more than 4% on Friday morning with better performance than expected, as Joshua Schulman, who was appointed a year ago, was working on a return.

Sales rose in Europe and America, but continued to fall into Asia, including the entire important Chinese market, which made up 30% of sales.

Schulman, the former boss of the US fashion brand coach, said, “This is a difficult macro. [environment] There and we take something step by step, but we are optimistic about the next neighborhoods and in general business. “

He said that the company has applied to King Elite VIP customers with a younger luxury customer-connected activities through festival-linked pop-ups, including King Charles’ partnership with the Highgrove Estate, as well as festival-linked pop-ups containing DJ sets in shopping malls. In the stores, the special “scarf sticks” attempt went well and the company plans to establish a total of 200.

“We appeal to a much wider luxury consumer,” he said.

Deutsche Analyst Adam Cochrane said that more growth is largely based on the ability of Burberry’s kernel products in other fields to “reproduce”.

The company said that it is still in the first stages of our return ”, which aims to simplify the business and improve its productivity and cash flow.

Next year, with the rest of this financial year, the planned 100 million pounds of cost cuts are waiting to receive 80 million pounds and reorganized the business under four regional presidents.

The company said it has reduced the job up to 1,700, including a whole shift in the Yorkshire Raincoat factory to save 60 million pounds above a savings program announced in November.

Schulman said that Burberry’s autumn ranges were “well met ,, but the outdoor environment remains challenging. During last year, we went to Burberry safely from stabilizing the business.

“The development in our first quarter comparable sales, the increase in the desire of the power and brand in our basic categories gives us faith in the coming way,” he said.

He called on the United Kingdom Government to implement policies “will encourage tourism”: “International consumers do not shop in the UK to the extent we want because of the lack of VAT reimbursement plan.” The program was gradually removed under the last government.

“All luxury brands and all retail brands will benefit from it,” he said.