Key facts
- Burberry reported 5% comparable store sales growth for the April-June quarter.
- Sales in the Europe and Middle East region decreased by 3% due to decreased tourist spending.
- Strong spending in the U.S. and China drove quarterly sales growth.
- Burberry's operating profit for the year was 115 million pounds.
- Chair Gerry Murphy will retire and be succeeded by William Jackson.
Burberry reported a 5% increase in comparable store sales for the April-June quarter, largely driven by strong consumer spending in the United States and China. Sales in the Americas were up 12% and China sales increased by 9%. However, sales in the Europe and Middle East region declined by 3%, attributed to a dampening effect of Middle East conflict on tourist spending. Chief executive Joshua Schulman described the financial year as a "meaningful inflection point" following cost-cutting measures. The company's operating profit for the year rebounded to 115 million pounds. Additionally, Chair Gerry Murphy is retiring and will be succeeded by William Jackson.