British luxury brand Burberry said its revenue returned to pre-pandemic levels in the first half of its financial year, driven by strong growth in mainland China, South Korea and the United States.
A Burberry logo is seen outside the store on 5th Ave in New York, New York, U.S., March 19, 2019. REUTERS/Carlo Allegrisaid its revenue returned to pre-pandemic levels in the first half of its financial year, driven by strong growth in mainland China, South Korea and the United States.
The company, which recently poached Versace boss Jonathan Akeroyd to be its new chief executive, reported revenue of 1.21 billion pounds for the six months to Sept. 25, up 45% at constant exchange rates. Adjusted operating profit came in at 196 million pounds, nearly four times the level achieved a year ago and beating expectations."We are seeing an acceleration in performance in countries less impacted by travel restrictions and we remain confident of achieving our medium-term goals," he said on Thursday.
The company, known for its camel, black and red check and new "TB" monogram, said full-price sales almost doubled in the Americas, while South Korea grew almost 80%, and mainland China was up over 40%.Akeroyd will join Burberry next April, succeeding Marco Gobbetti, who announced his departure in June, midway into a multi-year turnaround to take the brand further up-market.
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