The report shows that compared to the same period last year, Burberry achieved a 26% increase in comparable positive price sales in this quarter. Among them, the regular price of the American market can more than double the sales of stores over the same period of the previous year, the growth of Chinese Mainland is more than 55%, and the growth of South Korea is more than 90%.
As of the end of June, the negative impact of the epidemic has improved, with only 3% of Burberry stores closing, but 35% of stores are still operating at reduced times, and business in most parts of Europe and Asia is still affected by a significant decline in international tourist traffic. The sales performance of digital channels continues to rise, and the sales revenue at regular prices has more than doubled compared to the same period last year.
The performance of the brand's strategic categories is particularly strong, with double-digit growth in positive price sales of leather products compared to the same period last year. Compared to the same period last year, the sales of footwear products have achieved a three digit growth.
Except for wholesale business, Burberry's performance forecast for the 2022 fiscal year remains unchanged. In the fiscal year 2022, the brand will continue to strengthen its brand assets by reducing price reduction activities in its main stores.
Compared to performance reports, both inside and outside the industry are more focused on Burberry's next CEO.
On July 16th, Burberry held a media conference call, attended by Julie Brown, Director of Operations and Finance. The meeting mentioned that the board of directors is currently searching for new CEO candidates, and any updates will be announced to the public as soon as possible.
At the end of June, Burberry announced that after serving as the brand's CEO for five years, Marco Gobbetti will step down at the end of this year.
It is reported that Marco Gobbetti will join the Italian luxury brand Salvatore Ferragamo as General Manager and CEO. The brand is headquartered in Florence, and the new job will bring it closer to family and friends.
Burberry Chairman Gerry Murphy said he fully understands Gobbetti's desire to return to Italy after working abroad for nearly 20 years. After the news was released, Burberry's stock price fell nearly 8% in early trading, becoming the stock with the largest decline in the FTSE 100 index that day.
Currently, Jonathan Akeryod, CEO of Versace, Emmanuel Gintzburger, CEO of Alexander McQueen, and Alessandro Bogliolo, former CEO of Tiffany are all considered candidates in the industry to replace Gobbetti.
Investors are also concerned about whether Burberry's creative director Riccardo Tisci will return to Italy to reunite with his family during the pandemic.
Since taking over as CEO in 2017, Marco Gobbetti has actively promoted the reform of brand youthfulness and store digitization, reversing the stereotype that many people equate Burberry with trench coats and plaid scarves.
