Luxury brand Burberry has today reported a better-than-expected increase in like-for-like sales in its first quarterly report under new CEO Marco Gobbetti.
The company was helped by stronger demand in China and a continuing good performance in its home British market.
Like-for-like sales increased by 4%, double the rate of growth expected by analysts, led by its newest ranges and leather goods.
It also reported 3% underlying revenue growth.
Gobbetti took over from Christopher Bailey as chief executive this month.
He was charged with strengthening the brand while improving efficiency and boosting the performance of its stores, where its space delivers lower sales than rivals.
The new CEO said today he was pleased with the group's performance in the first quarter, while he was mindful of the work still to do.
The company reported retail revenue of £478m for the three months to the end of June.
It said its guidance for full-year adjusted pretax profit was unchanged, although the exchange rates were predicted to have a £25m adverse impact, an improvement on its previous forecast of a €30m hit.
Market consensus for the company's pre-tax profit was £456m before today's update.
