Burberry Stock Soars After Q3 Sales Fall Less Than Estimated

Company Performance - Burberry reported a 4% drop in comparable store sales for the third quarter, which was better than analysts' expectations of a 12% decline [1][2][3] - The company indicated that its second-half results are likely to broadly offset the first-half adjusted operating loss, despite the uncertain macroeconomic environment [2] Market Reaction - Burberry shares surged 12% in intraday trading following the sales report and have increased by almost 25% year-to-date [3] Industry Context - The luxury sector is showing signs of recovery, as evidenced by Burberry's performance and record quarterly sales reported by Cartier parent Richemont [2]