The quarterly sales above expectations by Burberry

The UK retailer specializing in luxury Burberry Tuesday reported a turnover exceeding expectations under its first fiscal quarter due to strong demand in Asia and Europe.

Turnover rose 24% to 282 million pounds (337 million euros) for the period April to June, excluding currency effects and taking into account the restructuring of its Spanish branch, with the increase demand.

Analysts had expected 263 million pounds on average.

Sales in stores posted a growth of 16% and 10% in comparable stores.Wholesale sales jumped 46%.

In Exchange, Burberry was down 0.25% to 787.5 pence in morning in a market up 0.7%.

The luxury groups have mostly rather good start in 2010, thanks to the release of recession in some countries.But the decision of several countries to limit their debt through tax increases and cuts in public spending have raised fears of a further slowdown in demand.

Burberry has gone through the recession better than many of its competitors, thanks to a policy of cost reduction, employment, inventories and its range.

In May, the group announced its intention to accelerate its expansion, thanks to emerging markets and e-commerce.

It plans to open 20-30 outlets during the year, mainly in the Americas, Asia and Oceania.

The turnover of the licenses rose 14% in the first quarter but is expected to drop 5 to 10% on the year mainly because of non-renewal of a license in the field of leather goods in Japan.

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