Luxury fashion retailer Burberry put in a strong third-quarter retail performance, helping boost total sales to £380m for the period - up 12% on an underlying basis.
Retail sales jumped 16% to £249m, and like-for-likes rose 10%, driven by sales of outerwear and accessories. Burberry now expects full-year profit to be at the top end of market expectations.
Wholesale revenue climbed 5% to £105m. The company now expects wholesale sales to fall 10% to 12% in the second half rather than the 15% previously expected.
Chief executive Angela Ahrendts said Burberry would plan cautiously for 2010 but remained confident its operational strategies would drive growth.
Shore Capital’s Kate Calvert said Burberry’s infrastructure investment would “underpin profitability despite the economic environment”.