For Burberry a cloudy quarter, but Gobbetti clings to the +1%: “Our work is making progress”

The revenues of Burberry in the third quarter of the current fiscal year are equal to 711 million pounds (about 808 million euros). The figure is less than 719 million collected in the same period of 2017, but represents + 1% on a like-for-like basis. The British brand, which last March ended its long Bailey-season by appointing as creative director Riccardo Tisci, sees in the data a positive response for the work of repositioning currently in progress.  “We are happy with progress made in the quarter, – says CEO Marco Gobbetti -.Our brand is now moving forward on a new creative vision and a change in public perception by the public”.  According to Burberry’s press release, the Christmas campaign, the collaboration with Vivienne Westwood and the choice to produce less second lines recorded good results in the quarter ended December 29. From the geographical point of view, the best results come from the Asia-Pacific region, where China has brought growth to the “mid-single digits”, while the Americas are giving a weak trend. For 2019, Burberry confirms its objectives (stability of revenues), including the 100 million pound cost savings program.


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