Lates News

Burberry Group's sales for all product lines have achieved growth for the first time in three years, with particularly strong demand for the iconic check apparel and accessories, especially in the key American market at the beginning of the summer sales season. Burberry announced on Friday that like-for-like sales for the first quarter ending in June increased by 5%, which largely met analysts' expectations. Sales in the Americas region grew by 12%. CEO Joshua Schulman, who began leading the brand's transformation two years ago, has focused on initiatives such as inventory reduction, price reductions, and re-focusing on the brand's iconic products. By improving product displays, including increasing model and scarf displays, he has helped attract both loyal and new customers. Despite the growth in sales, the entire luxury goods industry is still facing severe slowdown. As of Thursday's closing, Burberry's stock price has fallen by 12% year to date.