Younger shoppers send Burberry sales surging

Burberry has younger customers looking to update their post lockdown wardrobes to thank for its strong growth.

The British luxury brand said like-for-like sales had risen above pre-health crisis levels, driven by increased demand for trench coats and handbags.

The group said on Friday (July 16) that retail revenue for the quarter rose 86% to $662 million, with comparable store sales rising 90% on the same period last year, and 1% ahead of the period two years ago.

Burberry said it continued to see strong growth in mainland China and Korea.

And the Americas were also a standout, with sales up 341% on a year ago and 34% up on two years ago, driven by new and younger shoppers.

It's a different story in Europe however, with lower footfall leading to lagging store sales.

Burberry is still searching for a replacement boss, after Marco Gobbetti announced last month he'd be returning home to Italy to lead Ferragamo.

However, the firm said Friday it was very confident about holding onto star designer Riccardo Tisci.

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