Burberry

Burberry has reported increased sales in the three months to June, helped by demand from China.

The fashion retailer started the 2017-18 year with a 4% increase. In China, sales growth was in the "mid-teens".

It is the first set of results to be reported under new chief executive Marco Gobbetti.

Mr Gobbetti said: "We are pleased with our performance in the first quarter, while mindful of the work still to do. This is a time of great change for Burberry and the wider luxury industry."

Burberry shares rose 5% in early trading after the sales figures were announced.

Retail sales generated 478m pounds in the three-month period, helped by strong performances in the UK and mainland China.

Steve Clayton, a fund manager of Hargreaves Lansdown, said: "This is an encouraging performance from Burberry, which looks to be at long last pulling out of the doldrums. "

Mr Clayton warned that in the near-term, growth could be hampered by a slowdown in the number of stores being opened.

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