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Burberry Sees 35% Annual Profit Surge as Sales Accelerate

  • Retailer sold more products at full prices amid strategy shift
  • Shares surge in London trading on full-year profit outlook
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Burberry Group Plc said sales accelerated and operating profit will probably surge about 35% this year as the British maker of trench coats and other luxury fashions sells more products at full prices.

The company issued the earnings forecast as it reported better-than-expected revenue for the last three months of the year. Comparable store sales grew 7% in the period, the London-based company said in a statement Wednesday. Analysts surveyed by Bloomberg were expecting a 5.1% gain. Sales for the quarter have yet to surpass the same period in 2019.