Burberry Stock Soars After Q3 Sales Fall Less Than Estimated | Global News Avenue

Burberry (ClothAfter the luxury group announced that the sales in the third quarter were better than expected, the stock price of the London stock market soared, increasing the hope of investors’ recovery of the industry.

This British company is in turn around Focusing on its core products, such as scarves and windbreakers, the company reports that within the 13 weeks of December 28, sales of stores have fallen by 4%. The number exceeded the 12% decrease in the expectations of analysts. National Broadcasting Corporation Financial ChannelEssence

This period covers the Christmas holiday shopping period.

Burberry said that considering the performance in the third quarter, although there is uncertainty in the macroeconomic environment, the performance in the second half of the year may “greatly offset the adjustment of the operation after the first half of the year.”

Burberry’s performance is as follows Quarterly sales record Designed by Cartier’s parent company Richemont. The luxury industry has been struggling since last year The prosperity after the new crown epidemic As Chinese consumers have reduced their expenses due to the downturn in the real estate market, the plan finally ended in failure.

Burberry rose 12%in London’s stock price on Friday, and the stock price as of Thursday increased by nearly a quarter.