Burberry has reported a 31% drop in revenue to £878 million in its first half after trading was impacted by the coronavirus pandemic. In the six month period to 26 September, the luxury brand’s adjusted operating profit declined by 75%.
The pandemic meant the retailer started the current financial year with 60% of its stores closed which led comparable store sales to decline by 45%. However, sales improved after stores reopened to a drop of 6%.
Marco Gobbetti, Burberry chief executive, said: “Though the momentum we had built was disrupted by Covid-19 at the start of the year, we were quick to adapt, while making further progress against our strategy.
“While the virus continues to impact sales in EMEIA, Japan and South Asia Pacific, we are encouraged by our overall recovery and the strong response to our brand and product, particularly among new and younger customers.”
Burberry said store sales returned to growth in October and that it is making good progress with its strategy, despite the continuing impact of Covid-19.
