Burberry swings to a £54 million half-year profit as sales climb 6%

Burberry grew first-half fiscal 2026-27 revenue by 6% to £1.1 billion, shifting from an £18 million loss a year earlier to a £54 million profit. Comparable retail sales rose 4% in both the half and the second quarter.

The second quarter was the fifth consecutive quarter of growth for the British house, run by chief executive Josh Schulman. Wholesale revenue jumped 17% in the six months, outpacing the guidance the company had given.

Every major product category expanded in the half. Core outerwear, the trench coats at the centre of the brand, grew in the double digits. Leather goods grew strongly, with an acceleration in the second quarter after campaigns promoting bags, boots, shoes and accessories.

The Americas were the engine, with sales up 12% in the six months to 26 September. EMEIA, covering Europe, the Middle East, India and Africa, was the one region in retreat, down 2%.

Womenswear, menswear, childrenswear and accessories all grew in what the company called an uncertain environment. Burberry also reported improved store productivity in the period, a point it made alongside the push on bags and footwear.

Schulman tied the result to Burberry Forward, the turnaround strategy launched two years ago. "Our brand and our business are stronger," he said. "Five consecutive quarters of growth and improved quality of sales demonstrate that our strategy is working."

Burberry is the last major British luxury house still independent, publicly traded on the London Stock Exchange with no family or conglomerate in control. That frames the figures: a turnaround being run with no parent to cushion it.

What changed under Burberry Forward

We covered that independence and the strategy behind it in our piece on who owns Burberry. Independence allows fast pivots but leaves no parent to absorb a 15% revenue drop or fend off a takeover. The reset refocuses on outerwear and scarves and cuts costs.

Burberry makes high-end clothing, accessories and fragrances, and has been known since its founding in 1856 for the trench coat and its distinctive tartan pattern. Double-digit growth in outerwear is growth in the category that defines the house.

Schulman struck a confident note. "Having laid the foundations for growth, I am more confident than ever that we will realize the full potential of this extraordinary British luxury brand," he said.

For the full fiscal year, Burberry said it expects further progress on its financial ambitions, including delivering revenue growth and margin expansion. It added: "We remain mindful of the uncertain external environment." No new numeric target was given.

The turnaround in context

This is the second British name we have covered this reporting season. Our brief on Mulberry found first-half sales up 18% on a full-price push, so both heritage houses are reporting growth in the same period.

Wholesale, which grew 17%, rose far faster than the 4% comparable gain in retail.

The regional split is uneven. The Americas at 12% and China at 7% carried the half, Asia-Pacific added 3%, and the 2% fall in EMEIA is the only decline the company reported in any region.

Leather goods accelerated in the second quarter, and the company has not said whether that pace has continued since the half closed on 26 September. Burberry has given no timing for its next trading update.

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Images: Burberry