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Burberry (LSE: BRBY) 3Q17 Trading Update: Retail Sales Ahead of Expectations

Executive Summary

  • Burberry reported 3Q17 retail sales growth of 4% to £735 million in constant currency (22% growth in reported currency), above the consensus estimate of £721 million. Comparable-store sales increased 3% year over year, beating analysts’ estimates of 1%.
  • The strong sales performance in the retail business was driven by exceptional strength in the UK, where comparable sales grew 40% year over year, and a return to growth in the Asia Pacific region.
  • The company did not report sales performance figures for the wholesale and licensing divisions. Burberry maintained its outlook for FY17.

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