Burberry Group PLC (LSE:BRBY) reported an improvement in like-for-like sales for the first quarter of its new financial year, supported by improved "brand desirability" and strength in its core categories.
Sales in the 13 weeks to 28 June fell 1% on a comparable basis versus a year earlier, an upswing from the 6% decline seen in the final quarter of last year and the 12% drop over the full year.
Total retail revenue of £433 million was down 6% year-on-year at reported exchange rates and 2% lower at constant exchange rates.
By region, Europe, the Middle East, India and Africa sales rose 1%, the Americas grew 4%, Greater China fell 5% and Asia Pacific was down 4%.
Chief executive officer Joshua Schulman said: "Over the past year, we have moved from stabilising the business to driving Burberry forward with confidence.
"The improvement in our first quarter comparable sales, strength in our core categories, and uptick in brand desirability give us conviction in the path ahead."
He said the Autumn 2025 collection is being "well received by a broad range of luxury customers" as it is rolled out through stores.
"Although the external environment remains challenging and we are still in the early stages of our transformation, we are encouraged by the initial progress we are starting to see," investors were told.
The company said its cost efficiency programme remains on track to deliver £80 million in annualised savings by year-end.