Unlock the Editor’s Digest for free
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Burberry’s sales over the festive period fell less than feared thanks to shoppers in the US.
The British luxury brand, which is in the middle of a turnaround, reported a 4 per cent drop in quarterly comparable store sales on Friday, beating analysts’ expectations of a 12 per cent decline.
Chief executive Joshua Schulman, who is aiming to sell more outerwear, said: “We recognise that it is still very early in our transformation and there remains much to do.”
Burberry said it was now more likely that it would avoid a full-year operating loss.