Burberry has reported an annual global revenue of £2.7 billion in 2018, representing a decline of 1% on results from 2017.
The results were buoyed by strong performance in the Asia-Pacific with the region generating £1.09 billion in revenue for the year, up from £1.07 billion in 2017.
Burberry revealed that the Asia-Pacific region saw comparable sales rise by a mid-single digit percentage and wholesale rise by a double digit percentage year on year.
Burberry currently operates 204 stores in the Asia-Pacific region with 99 mainline stores, 90 concessions and 15 outlet stores.
However, the strong results in the Asia-Pacific region were offset by a decline in the United States as the company looked to shift customer perception in the US market which posted a revenue of £639 million, a 6% decrease from 2017.
Burberry CEO Marco Gobbetti said the results in the Asia-Pacific region represented a strong customer response to innovations made by the business.
“This was a good year and our results represent strong execution through a period of transition. Customers responded well to our innovation in product.
“Our conversion improved as we focused globally on retail excellence. Our top customers increased their spend and our digital channels outperformed.
“Throughout the year, we have focused on building the team to develop and deliver out strategy. This will continue across the business as we strengthen our operating model.”