Burberry (BRBY) earnings Q3 FY25 [Video]

Shares of Burberry jumped as much as 16% on Friday after the company reported a shallower-than-expected dip in sales in the fiscal third quarter, providing a first glimpse of CEO Joshua Schulman’s efforts to revamp the beleaguered British fashion house.

Comparable sales declined 4% in the three months to December. Analysts had anticipated a 12% decrease in a company-compiled consensus estimate.

Shares were pared gains slightly to trade up 12.9% by 10:00 a.m. London time, with other luxury stocks tracking higher.

Total revenue over the festive shopping period was £659 million ($816 million), down 7% year-on-year at reported exchange rates.

Sales were subdued in Asia Pacific and in the European, Middle East, India and Africa region — down 9% and 2%, respectively — but ticked up by 4% in the Americas, reflecting …