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Burberry Rebounds on US and China Demand

Financial Times Companies •
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Burberry recorded sales growth across all of its ranges for the first time in three years, with 5 per cent same‑store sales rise in the first quarter. Growth was driven by 12 per cent in the Americas and 9 per cent in Greater China, offsetting a 3 per cent decline in the EMEAIA region.

Retail revenue on a constant‑currency basis rose 4 per cent to £455mn. CEO Joshua Schulman said demand is rising for its signature check pattern across clothing, accessories and outerwear, and Gen Z spending is up double‑digits.

Under Schulman, Burberry has moved past the post‑pandemic slowdown, cutting a fifth of its workforce last year and partnering with British celebrities like Jennifer Saunders and Jack Draper to champion “back‑to‑basics” functional style.

After shareholders rejected larger share awards, shares fell nearly 15 per cent year‑to‑date amid concerns over the war in Iran, and were down 3 per cent in early trading Friday.