Burberry returns to profit as sales soar, from £85 socks to £9,000 bags

CEO says ‘democratic approach’ has helped brand outperform tough market, with big rises in China and US Burberry has returned to profit as its back to basics strategy drove strong sales of the British brand’s coats, jackets and handbags over the summer. Joshua Schulman, the chief executive, said the luxury brand had outperformed a “challenging luxury market” to achieve sales growth of 6%, helped by strong online and wholesale sales particularly in China and the US. “Our strategy is working,” he said. Continue reading...

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