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5/26/2010

Burberry Sales in Asia Market Revenue Jumping 20%

As the largest luxury retailer in the UK, Burberry has proved so popular over the last few months and they recorded a 15% rise in revenue in the final quarter of 2009.

Angela Ahrendts, the chief executive officer for Burberry said: "With sales up 12% underlying in the third quarter, Burberry has delivered a strong performance in both retail and wholesale, as customers around the world responded positively to our collections, marketing and service initiatives."

Burberry fared well across all regions, but in particular retail/wholesale revenue for Europe went up 18% while Asia Pacific was at the head of the pack with a surge of 20%.

Dennis Weber an analyst with Evolution Securities said in a note to investors: "Burberry is beating its competitors on all counts and the trend is still getting better."

The total sales bounced to 380 million pounds, a significant increase compared with last year's accounts of 329 million pounds. As a result Burberry shares on the London stock exchange have sneaked up 4.4% and the checked trench coat makers predict pre-tax profits will reach the pinnacle of market expectations.

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