British luxury brand Burberry's sales are picking up after a period of weak growth and cutbacks. This is mainly due to the company's important Chinese market, which is now contributing to a sales increase of 2 percent in comparable stores during the last quarter. This was significantly more than analysts' expectations of an increase of 0.6 percent.
The company, which was founded in 1856 and is known for its checkered pattern on many garments, including trench coats, has undergone a major change under CEO Joshua Schulman.
Earlier this year, it was announced that the company would lay off a fifth of all employees and the share price has risen sharply during the year, which meant that it made a comeback on the London Stock Exchange's so-called FTSE100 index in September after falling out last year.
