Luxury brand Burberry reported a better-than-expected increase in like-for-like sales in its first quarterly report, helped by stronger demand in China and a continuing good performance in its home British market.
Like-for-like sales increased by 4 percent, double the rate of growth expected by analysts, led by its newest ranges and leather goods. It reported 3 percent underlying revenue growth.
New CEO Gobbetti took over from Christopher Bailey as chief executive this month, charged with strengthening the brand while improving efficiency and boosting the performance of its stores, where its space delivers lower sales than rivals.
He said on Wednesday he was pleased with the group's performance in the first quarter, while he was mindful of the work still to do.
The company reported retail revenue of 478 million pounds for the three months to end-June.
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