Revenue for the retail channel was down 4% (up 1% at constant exchange rates) to £2.4 billion (US$3.04 billion), with a comparable store sales decline of 1%.

Comparable store sales were up by 3% for the Asia Pacific region and grew by 4% in EMEIA, while the Americas had a decline of 12%. Meanwhile, wholesale was down 7% (5% at constant exchange rates) to £506 million (US$639.95 million) and licensing grew by 23% to £62 million (US$78.37 million).

Adjusted operating profit was down 34% (25% at constant exchange rates) for the year to £418 million (US$528.36 million) with a margin of 14.1%.

Looking forward, Burberry expects continuing challenges in the first half of the new financial year, with wholesale revenue to decline by 25%. For the full 2025 financial year, the company is predicting a currency headwind of around £30 million (US$37.92 million).

CEO Jonathan Akeroyd said: “Executing our plan against a backdrop of slowing luxury demand has been challenging. While our FY24 financial results underperformed our original expectations, we have made good progress refocusing our brand image, evolving our product and strengthening distribution while delivering operational improvements.

“We are using what we have learned over the past year to finetune our approach, while adapting to the external environment. We remain confident in our strategy to realise Burberry’s potential as the modern British luxury brand and in our ability to successfully navigate this period.”