- Burberry reported that lockdowns in mainland China caused a 35% decline in sales.
- Analysts had projected a decrease of 2% in same-store sales for the British luxury goods firm.
- Full-year sales to be boosted by £190m due to stronger dollar and related currencies.
Burberry reported that lockdowns in mainland China caused a 35% decline in same-store sales during the first quarter, but a stronger dollar will deliver a greater boost to full-year sales.
Analysts had projected a decrease of 2% in same-store sales for the British luxury goods firm over the time, but same-store sales actually increased 1%.
Without China’s influence, sales would have been 16% higher.
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