Tags: EU | Britain | Burberry

Burberry Sales up Following Demand Boost in China

Wednesday, 12 July 2017 05:58 AM

LONDON (AP) — British luxury fashion brand Burberry saw a surprising 4 percent rise in sales in the second quarter, thanks largely to demand in mainland China.

The company said Wednesday that sales growth in China was in the mid-single digits after its campaign for new DK88 bag tripled its reach on WeChat, China's popular social media app.

Steve Clayton, fund manager at HL Select UK Growth Shares, noted that "The company says they are seeing 'top customers returning' to their stores. In other words, the Chinese are spending again."

Clayton said the 4 percent increase is higher than analysts had expected. Investors welcomed the report, sending the company's share price up 3.4 percent to 16.33 pounds.

In Europe, Britain led the trend of steady sales growth while demand in the Americas declined.

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British luxury fashion brand Burberry saw a surprising 4 percent rise in sales in the second quarter, thanks largely to demand in mainland China.The company said Wednesday that sales growth in China was in the mid-single digits after its campaign for new DK88 bag tripled...
EU,Britain,Burberry
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2017-58-12
Wednesday, 12 July 2017 05:58 AM
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