Burberry Group Q1 Comps. Up 1%

Burberry Group PLC (BRBY.L) reported that its first quarter comparable store sales increased 1% impacted by lockdowns in Mainland China. Excluding Mainland China, comparable store sales were up 16%, for the quarter. EMEIA grew 47%, for the period.

Retail revenue for the 13 weeks ended 2 July 2022 was 505 million pounds compared to 479 million pounds, prior year.

"While the current macro-economic environment creates some near-term uncertainty, we are confident we can build on our platform for growth," said Jonathan Akeroyd, CEO.

Looking forward, Burberry Group continues to target high-single digit revenue growth and 20% margins in the medium term.

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