Burberry sales are once again on the rise to its best sales performance in 18 months, thanks to musical festival goers.
In the three months leading to the end of June, the luxury British brand’s sales fell by 2% to £433m, a 3% increase from the previous quarter and the best performance since Christmas 2023.
Burberry shares also rose by more than 4%, a better-than-expected result as CEO Joshua Schulman attempts a turnaround.
Sales rose across Europe and the Americas but continue to fall in Asia, including the Chinese market, which accounts for 30% of sales.
Schulman was appointed as CEO last year, and the company said they are showing “encouraging early signs” of progress under his Autumn 2025 collection, which highlighted stronger performance in core categories like outerwear and scarves as well as an increase in online sales.
“It's a tough macro [environment] out there, and we are taking things step by step but we are optimistic about the quarters ahead and the business in general,” Schulman said.
Schulman said the company aims to appeal to a “broader range of luxury consumers” through marketing towards both younger, high-spending, extroverted consumers and the more mature brand loyalists.
This comes after the company announced it would cut around 1,700 jobs worldwide by 2027 to turn around tumbling profits.
The job cuts were part of a plan to find £60 million in savings and included removing the entire night shift at its Yorkshire raincoat factory.
