Burberry Group PLC (LSE:BRBY)
£ 11.885 0.235 (2.02%) Market Cap: 4.26 Bil Enterprise Value: 5.15 Bil PE Ratio: 9.83 PB Ratio: 3.91 GF Score: 78/100
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Q1 2024 Burberry Group PLC Trading Statement Call Transcript

Jul 14, 2023 / 08:00AM GMT
Release Date Price: £21.26 (+1.00%)
Ian M. D. Brimicombe
Burberry Group plc - Interim CFO

Good morning, and thank you for joining Burberry's Q1 Trading Update Call. My name is Ian Brimicombe, Interim Chief Financial Officer; and I'm joined by Julian Easthope, VP, Investor Relations. Slides are available to accompany this presentation on the Investors section of our website, and the transcript will also be made available.

I will run through our performance for the first quarter of FY 2024 before taking your questions. On Slide 2, I summarize our progress during Q1. As usual, I will refer to growth rates at constant exchange rates, CER. Comparable store sales grew by 18% with robust recovery in Mainland China, up 46%. Outside Mainland China, we achieved another quarter of double-digit growth, rising 11% with a very strong performance in EMEIA, South Asia Pacific and Japan.

We continue to see a good underlying performance from our core product categories with outerwear seeing growth of 36% as it continues to benefit from the campaign accompanying the brand's relaunch in February. Leather goods saw growth of 13% supported by

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