Business

Burberry fashion group sees sales jump

Models in Burberry
Image caption Burberry said it was confident about future prospects

Fashion company Burberry has reported a jump in sales during the last three months of 2010.

Overall revenues were up 27% on an underlying basis in the quarter, with retail sales rising 36% and wholesale revenues 15% higher.

Burberry said annual profits were now set to be at the top end of forecasts.

"Ongoing initiatives in retail, digital, product development and new markets underpin our confidence in the future," said boss Angela Ahrendts.

Burberry said it had seen a particularly strong performance in the UK, France, Hong Kong and Taiwan.

Non-clothing items, namely leather goods such as bags and accessories, also enjoyed strong growth.

Burberry is known for its distinctive check pattern designs.

It recently adopted a new pricing strategy which means that its core items, such as its trademark rain coats and cashmere scarves, are never discounted.

Burberry opened seven stores during the third quarter, including Sao Paulo in Brazil, Puebla in Mexico, Milan in Italy, and Beijing in China.

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