Burberry returns to profit as William Jackson named new chair

UK luxury brand Burberry has reached a meaningful inflection point in its financial recovery, reporting a return to profitable comparable store sales growth for the 52 weeks ended March 28, 2026. The results coincide with the announcement that Gerry Murphy will retire as chair in November 2026, to be succeeded by Bridgepoint Group founder William Jackson.

The London-based company saw revenue reach 2.4 billion pounds (3.25 billion dollars), remaining flat at constant exchange rates (CER) compared to the previous year. While reported revenue declined 2 percent, the group achieved a significant turnaround in profitability, with adjusted operating profit rising to 160 million pounds from 26 million pounds in the prior period. This performance was supported by 80 million pounds in operating expense (opex) savings delivered through the ‘Burberry Forward’ transformation programme.

Regional performance and product momentum

The fourth quarter (Q4) proved particularly strong for the group, with comparable store sales increasing 5 percent. Growth was spearheaded by the Americas and Greater China, which both saw double digit increases of 10 percent in the final quarter. For the full financial year (FY26), the Americas grew by 4 percent, supported by local spending, while Greater China also rose 4 percent as a strong second half (H2) offset earlier declines.

In terms of product categories, Burberry asserted its authority in outerwear and scarves, both of which saw double digit growth during H2. The group also focused on enhancing the brick and mortar experience, launching 200 scarf bars throughout the year.

E-commerce sales performed well, increasing by high teens percentages, aided by improvements to the digital customer experience.

Leadership transition at the board

Burberry confirmed that Murphy, who joined the board in May 2018, will step down following the release of the interim results in November 2026. Jackson will join the company as a non-executive director on July 1, 2026, before standing for election at the annual general meeting (AGM) on July 15, 2026. He will formally succeed Murphy as chair following a handover period.

Jackson brings extensive experience from his tenure at Bridgepoint Group, where he oversaw investments in consumer-facing businesses such as Pret a Manger.

Senior independent director Orna NiChionna stated that Jackson’s track record in scaling international businesses will add "considerable strength and expertise" to the board as the group continues its current strategy under chief executive officer (CEO) Joshua Schulman.

Financial outlook and strategic targets

The group reported a gross margin of 67.9 percent, an increase of 530 basis points at CER, driven by a higher quality of sales and recovery following an inventory reset in the previous year.

Looking ahead to the next financial year (FY27), Burberry expects to make further progress on revenue growth and margin expansion. Wholesale revenue is projected to grow by mid-single digit percentages in the first half (H1), while annualised cost savings are expected to reach 100 million pounds.