LONDON (Reuters) – Shares in British luxury retailer Burberry soared by more than 13% in opening trade on Friday after its third-quarter sales fell by less than forecast. Comparable store sales fell 4% versus an expected a decline of 12% for the company’s third quarter, which runs to Dec. 28. Shares were up over 13% […]
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Burberry shares rise 13% after sales beat expectations
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LONDON (Reuters) – Shares in British luxury retailer Burberry soared by more than 13% in opening trade on Friday after its third-quarter sales fell by less than forecast.
Comparable store sales fell 4% versus an expected a decline of 12% for the company’s third quarter, which runs to Dec. 28.
Shares were up over 13% on Friday at 12.11 pounds, having more than doubled since September last year.
(Reporting by Samuel Indyk; Editing by Amanda Cooper)