Burberry Sees Signs of Hope in Asia Despite Slump Elsewhere
- Brand reports rebound in mainland China, South Korean markets
- Closures to remain near peak in three months through June
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Burberry Group Plc said mainland Chinese stores have returned to growth, joining luxury rival LVMH in pointing to light at the end of the tunnel even as a lockdown-induced slump deepens elsewhere.
Burberry shares rose as much as 4.3% on some signs of a rebound in the fashion industry’s key market. Since the start of April, the company’s sales have returned to growth in South Korea, too, as some consumers catch up on purchases thwarted by the virus.