Burberry v Asos: How Lockdown Hit Fashion

Burberry sales nearly halve on last year, but Asos benefits from the stay-at-home delivery boom 

James Gard 15 July, 2020 | 12:08AM

Burberry shop

Latest results from Burberry (BRBY) and Asos (ASC) have given investors an insight into how fashion retailers have performed during lockdown as well as the state of consumer spending across the world – and in particular how China’s economy is recovering from the Covid-19 crisis.

Luxury fashion retailer Burberry revealed retail sales had almost halved in the three months to the end of June, causing its shares to drop 7%. But there were big differences between regions – while sales in Asia Pacific market were down 10% on the year before, the picture in the US and Europe was far more concerning, with sales down 70% and 75% respectively as international travel ground to a halt and airport concessions closed.

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About Author

James Gard  is content editor for Morningstar.co.uk

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