Comparable store sales were up by 18% year-on-year, while growth in Mainland China was 46%, EMEIA was up by 17%, South Asia Pacific grew by 39%, Japan was up by 44%, South Korea by 6% and the Americas declined by 8%.
By category, Burberry achieved an increase in comparable store sales for outerwear of 36% while leather goods were up by 13%.
A total of 19 stores were refurbished or opened during the quarter, including the brand’s flagship store on New Bond Street in London. Burberry reportedly remains on track to refurbish 50% of its store network by the end of the 2024 financial year.
Looking forward to the full year results, the company expected low double-digit growth and an operating margin of around 20%. Based on foreign exchange rates, Burberry expects a currency headwind of around £150 million (US$196.76 million) to revenue and £70 million (US$91.82 million) to adjusted operating profit.
CEO Jonathan Akeroyd said: “We have made good progress in the quarter delivering high teens comparable revenue growth led by the ongoing recovery in Mainland China.
“We saw continued strength in our core outerwear and leather goods categories and are excited about Daniel’s product arriving in stores in September. While mindful of the uncertain macroeconomic environment, we are confident of achieving our FY24 and medium-term guidance.”