US shoppers help Burberry to smaller drop in sales than feared

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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.