LONDON Oct 18 British luxury fashion label
Burberry reported a better-than-expected 2 percent rise
in retail sales in its second quarter after tourists in London
took advantage of the weaker pound to buy its luxury goods.
The company said positive trading in Europe and a
"significant outperformance in the UK" helped the improvement in
comparable retail sales, its first growth in the measure for
Burberry has been one of the best performing stocks since
Britain voted to leave the European Union on June 23, helped by
the weaker pound. Its shares are up 35 percent, outperforming
the FTSE 100 index by 24 percent.
Analysts were expecting a 1 percent rise in second-quarter
(Reporting by Paul Sandle; editing by Kate Holton)