Weak demand in China, Britain slows Burberry sales growth in 2nd quarter

The company said sales at stores open more than a year rose 1 percent in the three months to Sept. 30, compared with 6 percent in the previous quarter.

The news was not as bad as many had expected, however, and Burberry shares rose 8 percent in early trading to 1,085 pence.

Burberry warned in September that profits this year will be at the lower end of market expectations. The news from the company, which had prospered over the past few years despite a global financial slowdown, sent shares down 20 percent and shook confidence in the luxury goods sector.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Fedex to cut 'several thousand' from workforce via voluntary system in '13

NEXT ARTICLE
Wal-Mart predicts sales to soar on boost from new stores, e-commerce

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit