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LONDON (Reuters) -Luxurious model Burberry mentioned annual revenue would beat market expectations as its full-price gross sales accelerated within the third quarter, pushed by a powerful efficiency in outerwear and leather-based items and a cloth enchancment in Asia and Europe.
The British firm, recognized for its camel, purple and black test and TB monogram, mentioned its adjusted working revenue for the yr to April 3 would rise by about 35% at fixed change charges.
Analysts had anticipated on common an increase of 19% to 472 million kilos ($642 million), based on a company-compiled consensus.
Full-price comparable retailer gross sales had been 26% larger than the identical interval two years in the past, Burberry mentioned on Wednesday, whereas comparable retailer gross sales on the identical measure had been down 3% as a consequence of its deliberate discount in markdowns.
Chair Gerry Murphy mentioned development in full-price gross sales had accelerated from the second quarter, reflecting a better high quality enterprise.
“Regardless of the continuing challenges of the exterior atmosphere, we’re assured of ending the yr strongly and offering a superb platform on which to construct when our new CEO Jonathan Akeroyd joins in April,” he mentioned.
($1 = 0.7353 kilos)
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