Though the unseasonably high temperatures during the late fall and early winter dealt a blow to many retailers, Burberry reported on Thursday that though outerwear was indeed a weak spot, it did see some improvement in business from October through December, the third quarter of the year. It wasn't a particularly remarkable advancement — comparable sales for the period flatlined — but it was better than the 4 percent decrease it suffered during the second quarter.
One important wing of Burberry's operation seems to be getting back on track, at least: Mainland China, sales in which began growing again during the third quarter after slipping into a decline in the first half thanks to "weakening consumer sentiment in the market during the second quarter." Unfortunately, that was offset by a significant drop in Hong Kong — sales were roughly 20 percent lower than they were at the same time last year, though Burberry does point out that all of its stores in the region are still profitable.
Heading into the final quarter of the year, Burberry isn't expecting this to be a banner year for its brand. Store openings will likely contribute low single-digit growth to its overall retail revenue, and wholesale revenue looks to come in roughly the same as last year. For now, we'll just hope that Christopher Bailey's womenswear collection at London Fashion Week next month provides a lift to our imaginations, at least.