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Last Updated: Wednesday, 11 July 2007, 11:02 GMT 12:02 UK
Burberry sews up sales increase
Burberry's Knight handbag
Burberry expects great things from its new Knight handbag
Demand for luxury handbags and shoes helped fashion house Burberry to unveil a 30% rise in first-quarter revenues.

Sales rose to 167.5m ($339.7m) in the three months to June, traditionally the group's quietest quarter.

Like-for-like sales, which strip out the effect of new shops, rose 9%, while the opening of four new outlets worldwide boosted retail space by 14%.

Looking ahead, chief executive Angela Ahrendts said the group was on track to meet its full year expectations.

The fashion group said sales of its Beaton handbag, which retails for as much as 1,095, and its more modestly priced 295 Ashcombe handbags have been strong during the first three months of the financial year.

This month, the group launched its Knight bag which sells for 1,595.

Earlier this year the group - famous for its tan, black and red check design - posted a 21% rise in pre-tax profits to 156.3m for the year to March.


SEE ALSO
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