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Burberry Says Sales Rise, But Is Cautious on Weak Yen

Reuters
Tuesday, 16 Oct 2007 | 2:41 AM ET

Burberry Group, the British luxury goods company, saw its total revenue rise 19 percent in the first half broadly in line with analyst expectations and helped by a rapid opening of new stores.

"The weakness of the yen is expected to reduce reported revenue and profit by about a further 3 million pounds ($6 million) in the second half," Burberry said in a statement.

In the half year, Burberry's retail revenue increased 25 percent, with comparable same store sales growth of 11 percent.

Wholesale revenue increased by 16 percent as expected, with a further mid-teens percentage increase forecast for the second half, Burberry said.

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