Burberry’s strategic shift towards outerwear – beyond just trench coats – and accessories appears to be paying off. As part of the turnaround launched by CEO Joshua Schulman, the British fashion house has managed to slow the decline in retail sales to just 1% in the first quarter of the 2025-2026 financial year.
The results for the first quarter of 2025-2026 published by Burberry on Friday, June 18, demonstrate the effectiveness of the “Burberry Forward” transformation plan unveiled last November.
However, the icon of Britishness continues to face a persistent decline in sales.
In the first quarter of the 2025-2026 fiscal year, which ended on June 28, retail revenue fell by nearly 5.5% on a comparable basis year-on-year to £433 million.
Coats and scarves segment on the rise
In the first quarter of 2026, same-store sales fell by 1%, a smaller decline than the 6% drop recorded in the fourth quarter of the previous fiscal year. Better still, the performance was better than analysts’ forecasts, which had predicted a 3.7% decline for the past quarter.
For the full 2024-2025 fiscal year, which ended in March, comparable store sales plunged 12%.
The London-based manufacturer noted “good performance in the coats and scarves segments.”
Sequential improvements
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Featured image: © Burberry
