Burberry's (BRBY) shares rose following an inaugural first quarter trading statement from new chief executive Marco Gobbetti. Concern has mounted about Burberry’s ability to renew sales growth in several key markets, so 3 per cent underlying retail revenue growth to £478m and a “mid-teens” percentage improvement in China is encouraging.
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Foreign-exchange rates are still working their magic taking sales growth to 13 per cent. Elsewhere, bosses reckon first-half wholesale revenues should be flat, helping the group maintain overall pre-tax profit guidance.
