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| Burberry shares up on sales rise | Burberry shares up on sales rise |
| (35 minutes later) | |
| Burberry shares have risen 4% after it reported a strong increase in revenues for the final three months of 2012. | Burberry shares have risen 4% after it reported a strong increase in revenues for the final three months of 2012. |
| Total sales at the fashion house - famed for its camel, red and black check pattern - increased by 9% to £613m in the three months to 31 December, up from £574m a year earlier. | Total sales at the fashion house - famed for its camel, red and black check pattern - increased by 9% to £613m in the three months to 31 December, up from £574m a year earlier. |
| Sales were driven by sales of coats, scarves, men's tailoring and accessories, the company said. | |
| Same-store sales, which pulls out the impact of new shop openings, grew 6%. | Same-store sales, which pulls out the impact of new shop openings, grew 6%. |
| However, Burberry saw its wholesale sales fall 5%, which it blamed on weak trading conditions in Europe. | However, Burberry saw its wholesale sales fall 5%, which it blamed on weak trading conditions in Europe. |
| Burberry's wholesale arm, which supplies other retailers, recorded sales of £120m, down from £130m a year earlier. | |
| Total retail sales at Burberry - those from its own shops and concessions in department stores - rose 13% to £464m. | Total retail sales at Burberry - those from its own shops and concessions in department stores - rose 13% to £464m. |
| European woes | |
| Burberry chief executive Angela Ahrendts said: "We expect the external global environment to remain challenging." | Burberry chief executive Angela Ahrendts said: "We expect the external global environment to remain challenging." |
| The rise in sales comes as Burberry continues its recovery since it issued a profit warning last September, when it warned of weaker global trading. | |
| On a regional basis, its retail sales saw the biggest rises across Asia Pacific, led by Hong Kong and mainland China. By contrast, its European retail sales were "broadly unchanged". | |
| Wholesale sales grew in Asia, the US and emerging markets, but fell in Europe, where Burberry said small, independent fashion shops were suffering. | |
| Clothing retailer Hennes & Mauritz (H&M) also warned about tough European trading on Tuesday. | |
| The Swedish company, which has most of its business in Europe, said its same-store sales fell 2% in December. | |
| However, H&M's total sales increased by 8%, beating market targets. |