Burberry Beats Expectations with Holiday Boost in U.S.

Burberry, the British luxury brand, reported a smaller than expected 4% drop in quarterly comparable store sales due to strong festive demand in the U.S. Despite initial forecasts of a 12% decline, sales in the Americas rose by 4%, counteracting declines in Asia Pacific.

In an unexpected twist, British luxury icon Burberry has reported a lesser-than-expected 4% decline in its quarterly comparable store sales. This outcome was fueled by a surge in holiday demand across the United States.

Initially, market analysts had anticipated a substantial 12% decrease in comparable sales for Burberry's third quarter, which concluded in December. The company now foresees avoiding a full-year operating loss, down from a £41 million adjusted operating loss recorded in the first half.

The brand showcased robust performance in the Americas, notably with a 4% sales increase in New York, which helped offset a 9% sales decline in the Asia Pacific region and a 7% downturn in mainland China.

(With inputs from agencies.)