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Burberry Reports 18% Rise in Q1 Comparable Sales

LONDON, July 14 (Reuters) - British luxury fashion brand Burberry on Friday reported an 18% rise in it first-quarter comparable store sales, in line with market expectations, boosted by a continued recovery in its biggest market China.

Sales in Mainland China were up 46%, while sales in Europe rose 17%, the FTSE 100 company said.

The Americas continued be a weak spot for Burberry, with quarterly sales down 8%, broadly in line with its previous quarter.

CEO Jonathan Akeroyd said the group continued to see strength in outwear and leather goods, and said he was excited about product from new designer Daniel Lee arriving in stores in September.

Reporting by Suban Abdulla, editing by Paul Sandle

Source: Reuters

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