Executive Summary

• Burberry reported a 4% retail revenue increase for 1Q20. Comps rose 4%, driven by positive customer response to its new product line. The company eliminated 2% of its retail selling space.
• Burberry made good progress in the second year of its multi-year transformation plan, helped by the increased availability of Riccardo Tisci products and improvements in its retail and wholesale networks.
• The company reported improved social media traction and press coverage, and that it has introduced its new creative vision to 23 retail stores.