Global: Burberry Q3 sales beat estimates

Burberry Group has announced that its third quarter sales beat estimates despite a challenging macro-environment.

For the quarter ended Dec. 31, Burberry posted a 22% increase in sales to 574 million pounds (about $882 million), slightly ahead of analysts’ average estimate of 569 million pounds. Excluding currency shifts, sales climbed 21%.

“The momentum at Burberry remains strong. We are mindful as ever of the challenging macro environment,” said Stacey Cartwright, chief financial officer, who reiterated the company’s full year profit estimate remains at 375 million pounds.

Asia Pacific led in terms of sales increases where revenue climbed 36%. Sales rose 20% in Europe, 4% in the Americas and 31% in the rest of the world, on an underlying basis, Burberry said.