Burberry Group plc (BURBY) Q1 2027 Sales/Trading Call

Burberry Group plc (BURBY) Q1 2027 Sales/Trading Call July 17, 2026 4:00 AM EDTCompany ParticipantsCatherine Ferry - Executive Director & CFOJoshua...

Company Participants Catherine Ferry - Executive Director & CFO Joshua Schulman - CEO & Executive Director Conference Call Participants Anne-Laure Jamain - HSBC Global Investment Research Luca Solca - Bernstein Institutional Services LLC, Research Division Antoine Belge - BNP Paribas, Research Division Thomas Chauvet - Citigroup Inc., Research Division Carole Madjo - Barclays Bank PLC, Research Division Zuzanna Pusz - UBS Investment Bank, Research Division Grace Smalley - Morgan Stanley, Research Division Charles-Louis Scotti - Kepler Cheuvreux, Research Division Presentation Catherine Ferry Executive Director & CFO Good morning. I'm Kate Ferry, CFO of Burberry.

And with me today are Josh Schulman, our CEO; and Jo Kennedy, Head of Investor Relations. As you will have seen, we published our Q1 trading update this morning. There are slides to accompany this call on our corporate website, and a transcript will also be available later today.

In terms of running order, I'll go through our performance in the first quarter, and then Josh and I will be happy to take your questions. We have continued to make progress with our Burberry Forward strategy this quarter. Comparable retail sales grew 5% versus last year, led by continued strength in Americas and Greater China.

We sustained brand momentum through culturally relevant storytelling and activations, driving sales and engagement across key markets. We are cementing our authority in outerwear and scarves with outerwear growing double-digits in the quarter, supported by demand for heritage rainwear, lightweight jackets and seasonal products. We are also encouraged by the performance of our silk scarves.

At the same time, we're extending our product authority into ready-to-wear and women's bags. Overall, and for the first time in 3 years, we saw growth across our womenswear, menswear, accessories and children's wear divisions. We're seeing a positive customer response to our product

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