Asia boosts once again Burberry performance Q3

British luxury brand Burberry posted a 22 percent rise in third-quarter revenue as wealthy shoppers and tourists, particularly in Asia, showed their resilience to shaky economies in Europe and the United States.

Burberry confirmed today it made 574 million pounds ($880 million) of revenues in the three months to Dec. 31.That compared with an average forecast of 569 million pounds in a Reuters poll, and with first-half growth of 29 percent.

Sales in the Asia-Pacific region jumped 39 percent to 210 million pounds, accounting for the largest proportion of the total, while strong demand from tourists drove sales in major cities like London, Paris and Hong Kong, Burberry said. Sales at retail outlets open over a year climbed 13 percent, just ahead of a forecast 12 percent increase.

adapted from Reuters