Burberry's Japan sales fell 2% last quarter — the same quarter Richemont's Japan rose 36%
Burberry's comparable sales grew 5% globally in the quarter to 27 June, but Japan fell 2% — the one market the company singled out for a decline, and it named the cause: fewer inbound tourists from China. Richemont, reporting the very same quarter, called Japan its strongest market. The two are not measuring the same thing — but that alone does not close a gap this wide.
Burberry's comparable sales returned to growth in its first quarter, but Japan was the one country the company named individually that moved the other way, according to Burberry's trading update for the 13 weeks to 27 June 2026.