(News Bulletin 247) – Comparable store sales in the 1st quarter of the 2023-24 financial year increased by 18% to 589 million pounds sterling. The increase is +11% for sales outside mainland China, +17% in EMEIA, +39% in South Asia Pacific, +44% for Japan, +6% in South Korea South and down -8% in the Americas.

‘ We are maintaining our current fiscal year guidance of a high CAGR in revenue from the FY20 base, which equates to double-digit growth for fiscal 2023-24 and an adjusted operating margin of around 20% at CER We also maintain our medium-term objective of 4 billion pounds in turnover,” the group indicates.

During the quarter, the group refurbished 19 stores, including the New Bond Street store in London, which reopened in June.

“We made good progress in the quarter, with strong comparable store sales growth, driven by the ongoing recovery in Mainland China. While being aware of the uncertain macroeconomic environment, we are confident in the achievement of our forecasts for the fiscal year 2023-2024 and the medium term. ‘ said Jonathan Akeroyd, President and CEO.

Copyright (c) 2023 News Bulletin 247. All rights reserved.