British luxury brand Burberry on Tuesday reported a pick-up in first quarter sal...
) on Tuesday reported a pick-up in first quarter sales after it began shifting more new designs by creative chief Riccardo Tisci into its stores as part of a turnaround plan.
The fashion label is more than a year into a high stakes overhaul by CEO Marco Gobbetti aimed at taking Burberry more upmarket and reviving its image, including with edgier takes by Tisci on some of its classic products like the trench coat. This helped lift same store sales by 4% - following lacklustre growth of 1% in the previous three months and topping market expectations of around 2% - and its gamble on a new designer appeared to be paying off for now.
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