Burberry's back-to-heritage bet is working: retail revenue rose 5 percent to £455 million in the quarter to June 27, its first broad growth in three years, and the trench coat, not the logo, drove it.
- Outerwear grew double digits; the "Portraits of an Icon" trench campaign brought a 19 percent jump in new rainwear customers.
- For the first time in three years, all four divisions grew at once.
- Americas up 12 percent, Greater China up 9 percent, EMEIA down 3 percent.
- Fourth straight quarter of growth, yet shares fell nearly 5 percent on no acceleration past Q4.
CEO Josh Schulman put the coat back at the center. The market still wants proof it lasts.
