Burberry sales knocked by lockdowns, but fashion firm eyes post-pandemic growth

Burberryhas revealed how lockdown store closures have knocked sales, but the luxury fashion firm said it is set for post-pandemic growth.

The FTSE 100 firm, whose campaign features footballer Marcus Rashford, had to temporarily close shops at different points last year. Travel restrictions have also hit tourist spend.

It said comparable store sales fell 9% in the 13 weeks to December 26.

Other headwinds ahead include a “modest increase” in border trade compliance costs following the Brexit trade deal that was struck, and the impact from the government’s move to end tax free shopping for international visitors.

But Burberry pointed to a number of positive signs in the third quarter, including a strong performance in Mainland China, and Korea, high online demand, and latest collections being received well.