Major fashion label Burberry remains positive about a post-Covid-19 recovery as sales begin to return to pre-pandemic levels.
While same-store sales were down by 45 per cent across the three months, June’s decline was 20 per cent and the brand reported growth in both Mainland China and South Korea which was ahead of pre Covid-19 levels, “albeit with some benefit from the repatriation of sales given travel restrictions,” the company said in a statement.
Across the Asia-Pacific region, sales were down 10 per cent overall for the quarter, but returned to growth last month.
“We expect it will take time to return to pre-crisis levels with the resumption of overseas travel,” said CEO Marco Gobbetti. “We are encouraged by the improving trends in all regions and the promising exit rate for June. We saw an excellent response to new product launches in recovering economies as well as online.”
He said demand for leather goods was particularly strong in Mainland China and South Korea, bringing new, younger luxury customers to the brand, pushing full-price sales up at double-digit rates.
