12 March 2021

Burberry Group plc

Trading Update

This announcement contains Inside Information as defined in Article 7 of the Market Abuse Regulation. 

We are issuing an unscheduled trading update ahead of the 27^th March 2021 financial year end. Since December, we have continued to see a strong rebound and now expect revenue and adjusted operating profit to be ahead of consensus expectations. Comparable store retail sales in Q4 FY2021 are expected to be in the range of +28% to +32% higher than the same period last year. For the full year, we expect group revenue to decline by -10% to ‑11% and the adjusted operating margin to be in the range of 15.5% to 16.5%.

Our Preliminary FY2021 Results will be released on 13^th May 2021.

The person responsible for arranging the release of this announcement on behalf of Burberry Group plc is Gemma Parsons, Company Secretary.

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future results in forward-looking statements. Burberry Group plc undertakes no obligation to update these forward-looking statements and will not publicly release any revisions it may make to these forward-looking statements that may result from events or circumstances arising after the date of this document. Nothing in this announcement should be construed as a profit forecast. All persons, wherever located, should consult any additional disclosures that Burberry Group plc may make in any regulatory announcements or documents which it publishes. All persons, wherever located, should take note of these disclosures. This announcement does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any Burberry Group plc shares, in the UK, or in the US, or under the US Securities Act 1933 or in any other jurisdiction. 

Notes to editors

•       Burberry is a global luxury brand, headquartered in London

•       Burberry is listed on the London Stock Exchange (BRBY.L) and is a constituent of the FTSE 100 index.  Its ADR symbol is OTC:BURBY.

•       BURBERRY, the Equestrian Knight Device, the Burberry Check and the Thomas Burberry Monogram and Print are trademarks belonging to Burberry.