Pursuits
Burberry Sales Beat Estimates on Demand for Expensive Lines
This article is for subscribers only.
Burberry Group Plc, the U.K.’s largest luxury-goods goods maker, reported third-quarter revenue that beat analyst estimates, sending the shares above the price they traded at before the company warned on profit in September.
Sales rose 7 percent to 613 million pounds ($985 million), London-based Burberry said today, exceeding the 601.4 million-pound average of nine analysts’ estimates compiled by Bloomberg. The shares surged as much as 7.1 percent to 1,419 pence.