Burberry Shares Up On Strong Sales

Fashion and luxury goods peddler Burberry Group plc (LON:BRBY) saw retail revenues in its first quarter rise far faster than the market had been expecting.

Retail revenue advanced 21 percent to 339 million pounds ($504.7 million) in the three months through June, London-based Burberry said today. Analysts predicted 316 million pounds according to the median of nine estimates compiled by Bloomberg News. Comparable-store sales increased 13 percent, exceeding the 5 percent analysts had anticipated. The company may have expected that sort of eye-catching performance but the Citi had not; UBS, for example, had predicted retail sales of £321...