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Trench coats and scarves drive Burberry's 8% sales rise

Like-for-like sales at Burberry increased by 8% to £604m for the three months to December 31, with double-digit growth in the US, South America, Europe, the Middle East and Africa.

Total sales rose 15% for the period.

The “strong quarter” saw low single-digit growth in Asia due to the disruption in Hong Kong towards the end of last year.

Burberry expects wholesale revenue at constant exchange rates to be down by a “mid single-digit percentage” in the six months to March 31, 2015 – down from £240m in 2014 – due to a “more cautious approach” from wholesale stockists selling to European consumers and in Asian travel retail markets.

Heritage trench coats and cashmere scarves were the big winners for the British brand, while shoppers had an “exceptional response” to its runway-inspired ponchos.

Chief creative and executive officer Christopher Bailey said the Burberry team “worked tirelessly” over the Christmas period to bring “the very best of the brand” to the customer in store and online.

“15% underlying growth in retail sales reflects this commitment to every element of the customer experience, from product, to marketing, to service. Looking ahead, we will bring equal focus to maximising the opportunities of the final quarter – including the Lunar [Chinese] New Year – while being mindful of what remains a challenging external environment.”

During the third quarter, Burberry opened five stores and closed four. Openings included relocations in Beverly Hills and Tokyo, as well as a second dedicated beauty store in Seoul, South Korea.  Two concessions were opened in Japan, ahead of the expiry of its licensing deal with Sanyo Shokai in June.

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