Tuesday July 14, 2020

Burberry expecting bigger boost from sterling

First-quarter sales fall was smaller than feared

13th July, 2016
Sterling weakness will help Burberry Pic: Getty

British luxury goods maker Burberry has reported revenue that slightly beat analysts’ estimates as shoppers in Britain stepped up purchases of rucksacks and trenchcoats in the final weeks of June.

First-quarter retail revenue was little changed at £423m in the three months to the end of June, Analysts had predicted £415m. Comparable sales fell 3 per cent, beating the 5 per cent drop expected by analysts. The company also said wholesale revenue would fall...

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