Burberry closes 21 stores, keeps 2027 footprint steady

May 18, 2026

1–2 minutes

Summary

Burberry closed 21 stores in fiscal 2026 as it cut costs and shifted focus to wholesale growth.

Why this matters

The changes show how luxury brands are responding to slower demand and economic uncertainty by cutting costs and reworking store networks. For consumers and investors, the strategy offers a measure of how retailers are balancing physical stores, wholesale partnerships, and profitability.

Burberry closed 21 stores and opened nine in fiscal 2026, ending the year with 410 stores worldwide as of March 28, 2026, according to its latest earnings report.

The British luxury brand said it expected its store count to remain “broadly stable” in fiscal 2027 as it focused on store productivity, in-store experience, and merchandising.

Burberry reported adjusted operating profit of 160 million pounds, about $213.26 million, for fiscal 2026. It said cost-cutting measures generated 80 million pounds, about $106.63 million, in savings during the year and remained on track to deliver 100 million pounds, roughly $133.28 million, in annualized savings by 2027.

The company also said geopolitical tensions and broader economic instability could continue to weigh on consumer confidence in key luxury markets.

Burberry expanded investment in wholesale and department store partnerships, saying upgraded spaces at retailers including Saks Global, Bloomingdale’s, Nordstrom, and Galeries Lafayette were producing stronger sell-through than some standalone Burberry stores.

In fiscal 2026, Burberry said sales grew in most regions except Asia Pacific. For fiscal 2027, it expected the revenue effect of store closures to remain broadly stable, while wholesale revenue was projected to grow in the mid-single digits in the first half of the year.

Burberry’s moves came as the broader luxury sector faced weaker demand. Other retailers also reduced their footprints. Kering closed 133 stores in 2025 and said it planned to close another 100. Ferragamo said it expected to close about 70 stores between 2025 and 2026. Saks Global filed for Chapter 11 bankruptcy protection in 2026 and continued closing stores nationwide.

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The Carolina Hurricanes won the Stanley Cup on Sunday night, beating the Vegas Golden Knights in six games to secure the franchise’s second championship and first since the 2005-06 season.

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Twelve people died after a skydiving plane crashed in Missouri on June 14, according to Bates County Emergency Management.

Dennis Jacobs, director of Bates County Emergency Management, told USA TODAY that 11 people aboard the plane were skydivers and one was the pilot. The Federal Aviation Administration identified the aircraft as a Pacific Aerospace P750.

The plane crashed shortly after takeoff from Butler Memorial Airport in Butler, Missouri, about 65 miles south of Kansas City. Jacobs, who is also the airport manager, said it was the deadliest crash in the airport’s roughly 50-year history.

Of the 11 skydivers, nine were experienced and two were participating in tandem jumps, Jacobs said. He said multiple witnesses saw the crash, including relatives of some of those aboard.

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Bates County Emergency Management said no survivors were found along the flight path. The investigation was expected to last several days, the agency said.