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Story summary
- Burberry reported a 3% increase in sales in its fiscal third quarter, driven by strong demand in China among Gen Z customers.
- Revenue reached £665 million ($893 million), while comparable sales in China rose 6%.
- Joshua Schulman, Burberry's chief executive officer, took over in July 2024 and has refocused the brand on its classic trench coats and outerwear.
- The company aims to save £80 million through cost-cutting measures, including job reductions.
- Analysts view these results as a positive sign for Burberry and the luxury sector, which is recovering after a period of sluggish sales.
