Commodities

Burberry's first-quarter like-for-like sales drop 45%

Credit: REUTERS/JOHN SIBLEY

British fashion brand Burberry said on Wednesday that demand was severely impacted by COVID-19 in the first quarter, with comparable sales falling 45%, although the decline eased to 20% in June driven by growth in mainland China and South Korea.

LONDON, July 15 (Reuters) - British fashion brand Burberry BRBY.L said on Wednesday that demand was severely impacted by COVID-19 in the first quarter, with comparable sales falling 45%, although the decline eased to 20% in June driven by growth in mainland China and South Korea.

Analysts had expected first-quarter like-for-like sale to fall 49%, according to a company-compiled consensus.

(Reporting by Paul Sandle; editing by Sarah Young)

((paul.sandle@thomsonreuters.com; +44 20 7542 6843; Reuters Messaging: paul.sandle.thomsonreuters.com@reuters.net))

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