Operations Coordinator

Burberry's US sales boost growth as turnaround gains momentum. The British brand's sales grew across all product ranges for the first time in three years, though shares fell as investors shift focus to its efforts to drive further profitability. 17 July 2026 Burberry Group Plc's sales grew across all its ranges for the first time in three years after completing the first stage of its turnaround, as investors shift their focus to the brand's efforts to drive further profitability. Same-store sales rose 5 percent in the first quarter ended June, Burberry said Friday, broadly in line with analyst estimates. Sales grew 12 percent in the Americas at the start of the key summer season, and 9 percent in Greater China. Shares of Burberry fell as much as 4 percent in early trading in London on Friday, however, giving back most of their gain over the past two days that was driven by optimism over rival Richemont's outperformance in China and the US. Chief executive officer Joshua Schulman began a turnaround of the British luxury brand two years ago, cutting inventory, dropping prices and refocusing on its signature items. His strategy to improve product displays, including with mannequins and scarf bars, has helped draw in old and new customers. "It is in the group's strong outperformance in China where Burberry continues to see most traction vs peers," Jefferies analysts including James Grzinic said in a note. But the biggest levers for profit recovery, including resetting prices and costs, are now behind Burberry, "leaving future margin recovery largely dependent on comparable same store sales outperformance," they added. The British luxury brand highlighted sales of its rainwear with its "Portraits of an Icon" campaign, featuring celebrities from Teyana Taylor to Wu Lei. While sales are increasing, especially in crucial markets like China, the industry as a whole has been hurt by the war in Iran. Burberry's stock was down 12 percent so far this year through Thursday's close. Burberry is less exposed than other luxury retailers to the war, with the Middle East accounting for roughly 2 percent of sales prior to the conflict. Even so the fallout dragged down sales across the wider region that includes Europe, and the 3 percent drop was more than analysts expected. Gen Z customers in China are picking up Burberry items, while South Korea has become a bright spot with sales up 11 percent in the quarter. But the Asia Pacific region grew less than expected, as Japan faced a drop in tourism from China. By Jillian Deutsch

Richemont results buoyed by jewellery business. Chloé and Cartier owner Richemont has posted a 20% year on year increase in group sales at constant exchange rates to €6.33bn (£5.36bn) for the first quarter ended 30 June 2026, propelled by its jewellery and watch business. Alexa Chung walks the runway during the Chloe Womenswear Fall/Winter 2025-2026 show as part of Paris Fashion at Tennis Club de Paris on March 06, 2025 in Paris, France. (Photo by Peter White/Getty Images) Richemont's share price soared 7.5% on the JSE following the publication of the results. Fashion and accessories sales were up 9% at the Swiss luxury group, which also owns Alaïa, Dunhill and Van Cleef & Arpels. Sales at its jewellery maisons were up 24% to €4.73bn (£4bn) during the quarter. Sales increased in low-to-mid-double digits in almost all regions. European sales were up 11% to €1.43bn (£1.21bn), Asia Pacific sales were up 21% to €2.07bn (£1.75bn), Americas were up 27% to €1.67bn (£1.41bn), Japanese sales were up 36% to €632m (£535.6bn). The Middle East and Africa was the only region in which sales increased in the low single digits, up 3% to €530m (£449.1bn). By channel, its retail stores saw a 24% spike in sales growth to €4.5bn (£3.81bn); online was up 18% to €373m (£316.1m); and wholesale and royalty income was up 9% to €1.45bn (£1.22bn). Richemont did not share an outlook for fiscal 2027, but cited a "persistently volatile macroeconomic environment and geopolitical backdrop driving elevated raw material costs". The group's net cash position stood at €9.1bn (£7.7bn) as of 30 June, including €400m (£339m) from the sale of its stake in Swiss travel company Avolta in early June.

Richemont sales rise 20% as jewelry leads first-quarter growth. Richemont today reported a strong start to its fiscal year, with sales rising 20% at constant exchange rates for the quarter ended June 30, compared with the same period a year earlier. Jewelry continued to drive growth for the Swiss luxury group: Its sales increased 24% at constant exchange rates in the quarter. Richemont's jewelry division - which includes Cartier, Van Cleef & Arpels, Buccellati, and Vhernier - generated €4.73 billion ($5.4 billion) in sales during the quarter, a 21% increase at actual exchange rates. The company's overall sales totaled €6.3 billion ($7.2 billion) for the April-June period, up 17% at actual exchange rates from a year earlier. Richemont jewelry maisons recorded their seventh consecutive quarter of double-digit sales growth, with gains across brands, regions, and sales channels. The company attributed the higher performance to strength in both jewelry and watch lines, while noting that the operating environment remained volatile and that raw material costs were elevated. Richemont's specialty watchmakers, which include Vacheron Constantin, Jaeger-LeCoultre, A. Lange & Söhne, IWC Schaffhausen, Panerai, Piaget, and Roger Dubuis, reported sales of €873 million ($997 million), up 8% at constant exchange rates and 6% at actual exchange rates. Richemont said growth in the watch division was led by the Americas and Japan. Company-wide, Richemont posted a 27% sales increase in the Americas - one of the top-performing regions - to €1.67 billion ($1.9 billion). Sales in Asia Pacific rose 21% to €2.07 billion ($2.36 billion), Europe increased 11% to €1.43 billion ($1.6 billion), Japan grew 36% to €632 million ($722 million), and the Middle East and Africa returned to growth, with sales up 3% to €530 million ($606 million). All percentages are at constant exchange rates. Richemont said the Americas benefited from continued strength in local demand. In Europe, the company cited demand from both local customers and tourists, especially from North American and Middle Eastern clients. In the Asia Pacific region, Richemont said the jewelry maisons had double-digit sales increases in China, Hong Kong, and Macau combined. Retail remained Richemont's largest channel, with sales up 24% at constant exchange rates to €4.50 billion ($5.1 billion), representing 71% of group sales. Wholesale and royalty income rose 9% to €1.45 billion ($1.66 billion), while online retail increased 18% to €373 million ($426 million). The company's "other" business area, fashion and accessories - which includes Montblanc, TimeVallée, and Watchfinder & Co. - reported sales of €724 million ($827 million), up 9% at constant exchange rates. Reuters, citing a Visible Alpha consensus, reported that Richemont's quarterly sales exceeded analyst expectations of €5.90 billion ($6.7 billion), and that the company's jewelry sales growth also came in above analysts' expectations. Bloomberg reported that Richemont's 20% constant-currency sales growth was nearly double its consensus forecast of 11%. Richemont ended the quarter with net cash of €9.1 billion ($10.4 billion), up from €7.4 billion ($8.5 billion) a year earlier, including €400 million ($457 billion) in proceeds from the disposal of its stake in Avolta. The JCK News Desk uses AI to help research and produce the first draft of articles. This story was then reviewed by staff writer David Blomquist. Top: The Traditionnelle Twin Beat Perpetual Calendar from Richemont maison Vacheron Constantin