Burberry turns corner with first sales rise in two years

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Burberry has cheered its first rise in store sales for two years as turnaround efforts also helped the luxury fashion label cut half-year losses.

The group said comparable same store sales lifted 2% in its second quarter and remained flat overall in the first half, compared with a 20% plunge a year earlier.

It reported pre-tax losses of £48 million for the six months to September 27, against losses of £80 million in the same period the previous year.

On an underlying earnings basis, it swung to a £19 million operating profit from losses of £41 million a year ago.

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