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Burberry upgrades guidance after strong rebound in sales

Fri, 12th Mar 2021 07:14

LONDON, March 12 (Reuters) - British luxury group Burberry
said on Friday it had seen a strong rebound in sales
since December, which it expected to result in profit for the
year to March 27 beating market forecasts.

In an unscheduled trading update, the company said
comparable store retail sales in the final quarter of its
financial year were expected to be 28% to 32% higher than the
same period last year.

For the full year, it said it expected group revenue to
decline by 10% to 11%, while its adjusted operating margin would
to be in range of 15.5% to 16.5%.

(Reporting by Paul Sandle; editing by Sarah Young)

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