Burberry's sales rise on revived Asian luxury sales

Luxury brand Burberry (BRBY.LON) recorded a 9% annual increase in revenue between October and March, due partly to booming sales in China, The Wall Street Journal reported. Revenue reached US$1.72 billion in the six-month period, which the company attributed to strong sales of its most expensive items such as trench coats and hand bags in Asia, particularly China. Burberry’s share price dropped 21% in one day in September after a slowdown in China’s luxury consumption prompted the company to issue a profit warning. At the time, investors called it an end to China’s luxury boom. Burberry has more than 60 stores in China.