Models present creations from Burberry in London, the UK. Picture: REUTERS/Suzanne Plunket
The British fashion house said comparable retail sales fell 45% in the quarter, which was slightly better than analysts expected. Covid-19 prompted luxury boutiques to close around the world, and in some markets consumers are only now venturing back onto shopping streets. “We are also proposing to further streamline our office-based functions and improve our retail efficiency in certain geographies outside the UK,” Burberry said in a statement on Wednesday.
The pandemic has hit Burberry’s turnaround plans after the company hired star designer Riccardo Tisci, formerly of French fashion house Givenchy, in 2018. With Tisci, Burberry has been trying to woo millennials and younger shoppers, adding to its accessories line and trying to move its image upmarket.
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