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FTSE 100 fashion brand Burberry (LON:BRBY) said that retail sales during the 13 weeks ended 29th December dropped by 1% to £711 million, but were up slightly on comparable stores and with positive movement in mainland China. Total space dropped by 1% after two branches were closed during the quarter.
CEO Mario Gobbetti commented: “I am pleased with our progress in the quarter as we continued to build brand heat around our new creative vision and shift consumer perception of Burberry. Excitement is growing ahead of next month’s launch of Riccardo’s debut collection. We will continue to manage the business dynamically as we reposition the brand. We confirm our outlook for the full year“.
The price of Burberry shares rose by 2.59% to 1,822p (as of 15:30 GMT).