Burberry shares up on good start to the financial year

Shares in FTSE 100 fashion outfit Burberry (LON:BRBY) surged 9.12% to 2,172p (as of 9:45 BST) after it reported a 4% increase in retail sales for the 13 weeks ending 29 June. This sales growth was heavily driven by Asian markets with mainland China performing particularly well.

CEO Marco Gobbetti commented: “This was a good quarter in our multi-year journey to transform Burberry. We increased the availability of products designed by Riccardo, while continuing to shift consumer perceptions of our brand and align our network to our new creative vision. The consumer response was very promising, delivering strong growth in our new collections. We are on track with our plans and we confirm our outlook for FY 2020“.