Burberry Comparable Sales Rise 3% in First Quarter

LONDON — The heat is on at Burberry, which reported a 3 percent uptick in first-quarter retail sales to 479 million pounds, broadly in line with analysts’ projections, and which is fine-tuning its commercial model ahead of Riccardo Tisci’s runway debut in September.

Drivers behind the growth were Chinese tourists, who have shifted their attention away from Europe and to Asia-Pacific, and the U.S., which has begun to embrace Burberry once again.

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A woman walks past a Tiffany & Co. store at a shopping mall in Beijing. The designer boutiques of Manhattan and Paris are feeling the chill of a Chinese economic slowdown that has hammered automakers and other industries. That is jolting brands such as Louis Vuitton and Burberry that increasingly rely on Chinese customers who spend $90 billion a year on jewelry, clothes and other high-end goods. The industry already is facing pressure to keep up as China's big spenders shift to buying more at the spreading networks of luxury outlets in their own countryLuxury Shopping Chill, Beijing, China - 29 Nov 2018

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