InboundJapan comparable retail sales fell 2% in the quarter, which Burberry put down to the continued decline in inbound tourists from China; Asia Pacific overall grew 3%, with South Korea up 11%.
Not disclosedThis is a revenue-only trading update covering retail sales; the Japan figure is a comparable-store measure, not revenue, and no profit figures are given. Interim results are due 12 November 2026.
Other callouts in the filing
BasisComparable retail sales are measured at constant exchange rates and include online; Burberry's forecast effective yen rate of ¥214 to the pound compares with a ¥203 average in FY26.
OutlookBurberry raised its H1 FY27 wholesale guidance to high-single-digit growth and expects FY27 revenue growth and margin expansion in line with expectations; restructuring charges should be about £5m.
floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.
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Q1 FY2027 · revenue only (13 weeks to 27 June 2026) · Year-to-Date
Burberry's turnaround kept building momentum into its new fiscal year: Q1 retail revenue rose 5% to £455m (4% at constant currency) with comparable sales up 5% — the first quarter in three years with all four product divisions growing at once. The Americas (+12%) and Greater China (+9%) led; Japan was the weak spot in Asia, down 2% as inbound Chinese tourist numbers kept falling.
Full year to March 2026
Reported 2026-05-14
Revenue£2.4bn▼ −2.0%
Adj. operating profit£0.2bn—
Net income——
Burberry's turnaround took hold in its year to March 2026: adjusted operating profit rebounded to £0.2bn (a 6.6% margin) from near-nothing a year earlier, and it returned to a small statutory profit (£21m) from a loss, though revenue slipped 2%. Japan stayed soft — down 6% in the final quarter and 2% early in the new year — as Chinese tourist numbers fell.
JapanJapan stayed soft, down 6% in the final quarter, as Chinese tourist numbers fell.
BasisOperating profit shown is adjusted; on a statutory basis the group returned to a small £21m profit from a loss.