Burberry Clocks 1% Comp Sales Growth In Q1 Hit By China Lockdowns

by Shivani Kumaresan, Benzinga Staff Writer

July 15, 2022 8:00 AM | 1 min read | Make a Comment

British luxury brand Burberry Group BURBY reported a Q1 comparable store sales increase of 1%, impacted by the lockdowns in China. Excluding Mainland China, comparable store sales grew by 16%.
Sales in the Asia Pacific fell 16%, with Mainland China down 35%. Comparable store sales in the Americas decreased by 4%.
In contrast, sales in EMEIA grew 47% as the business annualized the lockdowns in Q1 FY22.
"While the current macro-economic environment creates some near-term uncertainty, we are confident we can build on our platform for growth," said CEO Jonathan Akeroyd.
Price Action: BURBY shares closed lower by 0.99% at $19.56 on Thursday.

Posted In: News Retail Sales General Briefs

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