Weak pound drives strong UK sales for luxury brand Burberry

Weak pound drives strong UK sales for luxury brand Burberry
 

British luxury fashion label Burberry reported a better-than-expected rise in second-quarter retail sales after tourists flocked to its London stores to take advantage of the weaker pound, boosting sales in its home market by 30 percent.
The company said positive trading in Europe and a "significant out performance in the UK" helped it generate a 2 percent rise in comparable retail sales, its first growth in the measure for four quarters.
Burberry has been one of the best performing stocks since Britain voted to leave the European Union on June 23, helped by the weaker pound. Its... read more

 
18 October 2016 in Business, Views: 38
Source: Reuters
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