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Burberry recovers its poise but growth still slows

Burberry's shares strutted up 13 per cent yesterday after latest figures from the British luxury brand, which issued a profits warning last month, were greeted with relief. However, it revealed its sales slowdown has continued.

Last month the fashion house shocked the City with an unscheduled trading update citing a "material slowdown" in global sales, and its shares had fallen 26 per cent since.

But yesterday's first-half update showed that sales at stores open more than a year rose 1 per cent in the three months to 30 September, well below previous double-digit growth, but better than the zero growth in the first 10 weeks of the quarter.