Resisting panic discounting pays off for upmarket fashion retailer
Burberry has recorded an underlying increase in revenues of 7 per cent for its third quarter, ended January 1. Underlying retail sales for the period rose 6 per cent, boosted by store openings and the refurbishment of existing sites. Retail sales reached£100 million for the quarter.

Burberry chief executive Rose Marie Bravo said: 'In the context of a highly promotional environment, Burberry held its course and delivered a solid result for the quarter. With favourable initial consumer response to the spring product and an exciting advertising campaign, Burberry is well positioned as we enter the season.'

In December, the retailer rubber-stamped a strategy to buy back shares from parent-company GUS. Shareholders voted almost unanimously to support the strategy of buying back£250 million of shares, which was announced on November 16.

Burberry operates about 145 retail sites, mainly in the US and Asia Pacific regions, as well as the UK and Europe.