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TheStreet Open House

[video] Burberry's Holidays Were Happier Thanks to Asia-Pacific and Online Shoppers

NEW YORK ( TheStreet) -- Shares of Burberry climbed in London after the luxury retailer reported strong sales over the holidays.  The company said it experienced a 14% increase in retail sales in the third quarter from a year earlier, boosted by the Asia-Pacific region and online shoppers.  Comparable sales, which exclude new stores, rose by 12%.  Burberry has opened five new stores in the last three months, including two in China.  On a cautious note, Burberry CEO Angela Ahrendts warned that fluctuating currency exchange rates could weigh on earnings in the second half of its financial year.

VIDEO TRANSCRIPT


Shares of Burberry climbed in London after the luxury retailer reported strong sales over the holidays.

The company said it experienced a 14% increase in retail sales in the third quarter from a year earlier, boosted by the Asia-Pacific region and online shoppers. Comparable sales, which exclude new stores, rose by 12%. Burberry has opened five new stores in the last three months, including two in China.

On a cautious note, Burberry CEO Angela Ahrendts warned that fluctuating currency exchange rates could weigh on earnings in the second half of its financial year as the economic environment remains "uncertain." The company said its outlook remained unchanged for the full year.

Shares of French luxury goods retailer LVMH also rose on Burberry's positive results.  In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

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