British luxury brand’s shares rise by as much as 15% as sales of scarves and trenchcoats help it beat forecasts

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Burberry has recorded a 4% drop in sales over the Christmas quarter, but expects to recover from losses made in the first half of its financial year after a strong performance in the US.

The British luxury brand’s shares rose by as much as 15% on Friday after a rise in sales of scarves and trenchcoats over the Christmas period helped produce a better performance than the 12% drop in sales analysts had expected.