Preliminary Results for 52 weeks ended 28 March 2026

“This financial year marks a meaningful inflection point for Burberry. We’ve returned to profitable comparable sales growth, with a strong fourth quarter driven by momentum in Greater China and Americas. Our strategy is working and there are clear opportunities for further growth. As we look ahead, while mindful of the uncertain macroeconomic environment, our focus is on disciplined execution of Burberry Forward. With increased brand relevance and product authority, I am more confident than ever that Burberry is firmly positioned for long-term value creation.”

Joshua Schulman, Chief Executive Officer

Comparable store sales by region

1. Greater China consists of Mainland China; Hong Kong S.A.R, China; Macau S.A.R, China; and Taiwan Area, China.
2. Asia Pacific consists of the rest of Asia; including Japan, South Korea, Southeast Asia, Australia and New Zealand.

FY26 Highlights

• Returned to comparable sales growth from Q2, with sequential improvement throughout the year; particular strength in Greater China and Americas, both up double digit in Q4
  • Reignited brand momentum with improved cultural relevance
  • Asserted our authority in Outerwear and Scarves; both up double digit in H2; extending momentum to other categories
  • Enhanced in-store experience to drive cross-category merchandising and store productivity; launched 200 scarf bars in FY26, with polo galleries and trench destinations rolling out in FY27
  • E-Commerce sales up high teens, supported by improved site experience for customers
• Gross margin of 67.9%, up 530bps at CER and up 540bps at reported rates, driven by higher quality of sales and a recovery after FY25’s inventory reset
• Adjusted operating profit margin of 6.6%, up 570bps at CER and up 560bps at reported rates, supported by Opex savings of £80m achieved in FY26
  • Continued investment in growth-driving initiatives, including marketing   
• Free cash flow generation of £141m, up 120% vs LY
• Balance sheet strengthened, supported by lower borrowings; leverage ratio improved to 1.6x.  

FY27 Outlook

As we look ahead, we are encouraged by the progress this year and will build on this to drive performance and deliver sustainable long-term value.

In FY27 we expect to make further progress on our financial ambitions, including delivering revenue growth and margin expansion. We are, however, mindful of the uncertain geopolitical and macro-economic environment and its potential impact on consumer confidence.

Enquiries

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