Good news for Burberry, reports Burberry:
Burberry Group Plc, the U.K.’s largest luxury goods company, said first-quarter sales climbed 8 percent as store openings offset a slowdown in wholesale revenue and increased discounting. Sales climbed to 229 million pounds ($375 million) in the three months through June 30 from 211 million pounds a year earlier, the London-based company said today in a statement. Retail revenue gained 28 percent, or 12 percent on a constant- currency basis. – from Bloomberg