Retail in Asia

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Burberry sees sales pick-up in third quarter

British luxury brand Burberry said on Thursday comparable store sales since the start of its third quarter had improved relative to the second, when they were dented by a slowdown in China and Hong Kong.

The firm, famous for its trench coats and cashmere scarves, also reported a better-than-expected 3 percent rise in first half underlying profit, helped by costs savings.

It made an adjusted pretax profit of GBP153 million (USD233 million) in the six months to Sept. 30, on flat revenue of GBP1.11 billion. The profit outcome was ahead of analysts’ consensus forecast of GBP147 million.

(Source: CNBC)