BURBERRY SALES UP FOL­LOW­ING DE­MAND BOOST IN CHINA

Kuwait Times - - LIFESTYLE -

Bri­tish lux­ury fash­ion brand Burberry saw a sur­pris­ing 4 per­cent rise in sales in the sec­ond quar­ter, thanks largely to de­mand in main­land China. The com­pany said yes­ter­day that sales growth in China was in the mid-sin­gle dig­its after its cam­paign for new DK88 bag tripled its reach on WeChat, China’s pop­u­lar so­cial me­dia app. Steve Clay­ton, fund man­ager at HL Se­lect UK Growth Shares, noted that “The com­pany says they are see­ing ‘top cus­tomers re­turn­ing’ to their stores. In other words, the Chi­nese are spend­ing again.”

Clay­ton said the 4 per­cent in­crease is higher than an­a­lysts had ex­pected. In­vestors wel­comed the re­port, send­ing the com­pany’s share price up 3.4 per­cent to 16.33 pounds. In Eu­rope, Bri­tain led the trend of steady sales growth while de­mand in the Amer­i­cas de­clined. — AP

In this file photo, mod­els dis­play cre­ations by Burberry dur­ing their Au­tumn/Win­ter 2017 show as part of Lon­don Fash­ion Week in Lon­don. — AP

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