Burberry Returns to Profit as US and China Sales Grow
The British luxury brand reported an annual operating profit of 115 million pounds as turnaround efforts drove 10 percent growth in the United States and China. While global travel disruptions and regional conflict impacted European revenue, CEO Joshua Schulman noted a meaningful inflection point for the company.
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BURBERRY GROUP PLC reported Q4 comparable retail sales rose 5% on Thursday, driven by 10% growth in the United States and China. The results met analyst expectations and pushed annual growth to 2%. Investors are gauging if CEO Joshua Schulman's focus on heritage products can sustain recovery despite geopolitical headwinds.
