Burberry saw another round of retail sales falls in Q3, with Europe and the Americas still being hit hard. But it said China, Korea, leathergoods, outerwear and full-price sales all headed in the right direction.
Burberry was hit hard by the Covid-19 crisis at the end of its last financial year and the impact is continuing in the new year. But it's seeing resurgent demand in key Asian markets and its strategy remains on track.
Burberry had more bad news on Thursday as it updated on the "material negative effect of Covid-9 on luxury demand" saying that the situation has "intensified and is now impacting the industry in all regions”.
Burberry’s Q3 update offered further signs of the strength of the firm’s growth strategy. It had “a good quarter” and “continued to shift consumer perceptions of our brand and align the network to our new vision”.