British luxury fashion brand Burberry reported stronger-than-expected fourth quarter sales on Thursday, boosted by a rebound in its largest market China following three years of COVID-19 restrictions.
People wearing protective masks walk past a Burberry store at Covent Garden, following the outbreak of the coronavirus disease in London, Britain June 15, 2020. REUTERS/John Sibleyreported stronger-than-expected fourth quarter sales on Thursday, boosted by a rebound in its largest market China following three years of COVID-19 restrictions.
In the quarter to April 1, comparable store sales rose 16%, accelerating from 1% in the third quarter and above a company compiled consensus of 14%. Sales in Mainland China rose 13%. "We have delivered a strong financial performance, supported by good progress in our core leather goods and outerwear categories, with revenue accelerating in the fourth quarter as growth rebounded in Mainland China," chief executive Jonathan Akeroyd said in a statement on Thursday.
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