Burberry shares jump 16% after better-than-expected quarterly sales

Shares of Burberry surged 16% after reporting a smaller-than-expected sales decline in the fiscal third quarter under CEO Joshua Schulman. Comparable sales dropped 4%, beating analysts’ estimates of a 12% decrease. Total revenue for the festive period was £659 million, with sales up in the Americas but down in Asia Pacific and Europe, Middle East, India, and Africa.

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