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

CEO says ‘democratic approach’ has helped brand outperform tough market, with big rises in China and USBurberry 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...