The luxury brand said on Thursday that Burberry’s new creative designers responded “specially” to their debut series of products, but it took time to reverse the decline in revenue and operating profit in the first half of the year.
Riccardo Tisci, the former Van Gogh star, was first designed for the British brand, including the metal trim and the corset-style belt on Burberry’s signature trench coat. In September, critics and buyers were full of praise.
While luxury brands have benefited from the rebound in Chinese demand and the interest of young shoppers, Burberry has lagged behind its competitors, leading Mr. Tisci to be appointed in March.
For the 26 weeks ended September 29, Burberry reported revenue of 1.22 billion pounds, 3% lower than analysts’ forecast, and adjusted operating profit of 178 million pounds, down 4%.
The company said that the full-year outlook is broadly stable income and adjusted operating margins. – Reuters