Luxury retailer Burberry reports 5% year-over-year comparable sales growth, matching estimates as US and China strength counter Europe slowdown.
Burberry posted a 5% year-over-year increase in comparable store sales for the April-June quarter, aligning with analyst expectations. The growth was driven by robust demand in the US and China, which helped offset weaker tourist spending in Europe amid geopolitical tensions.
The company’s performance reflects a recovery trend, though challenges persist in key European markets. Prior quarter sales had shown mixed results, with regional disparities influencing overall growth.
No immediate market reaction was detailed in the report.