Burberry has reported that its “intervention to reset the brand” has resulted in a sales improvement in the second half.
In preliminary results for the 52 weeks ending March 29, 2025, the luxury fashion retailer posted an operating loss of £3m, down 101% on the same period last year.
Sales reached £2.4bn, down 17% from £2.9bn the year prior.
The retailer said in a statement to markets: “After a challenging first half, in November, we launched Burberry Forward. Our immediate intervention to reset the brand storytelling, enhance visual merchandising in stores and online, and align product focus to our core categories has resulted in a significant improvement in our comparable retail sales in the second half relative to the first half.
“This gives us confidence that our strategic plan is the right path forward.”
Its comparable retail sales dropped 5% in the second half versus a 20% decline in the first half, a 12% decline for the year.
Burberry chief executive Joshua Schulman said: “After a challenging first half, we have moved at pace to implement Burberry Forward, our strategic plan to reignite brand desire, improve our performance and drive long-term value creation. Our customers are responding to our timeless British luxury brand expression.
“With improvement in brand sentiment, we will be ramping up the frequency and reach of our campaigns as our autumn and winter collections arrive in store. The continued resilience of our outerwear and scarf categories reaffirms my belief that we have the most opportunity where we have the most authenticity.
“While we are operating against a difficult macroeconomic backdrop and are still in the early stages of our turnaround, I am more optimistic than ever that Burberry’s best days are ahead and that we will deliver sustainable, profitable growth over time.”
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